Citi Hires Fortis I-Rate Trader

Citigroup last week hired Patrick Law, interest rate derivatives trader at Fortis Bank in Hong Kong, for a similar role handling Hong Kong dollar denominated instruments. Racky Shum, head of debt and interest rate derivatives trading at Citigroup in Hong Kong, said Law is a replacement for William Fung, an interest rate derivatives trader who joined local hedge fund PMA. Shum continued that additional hires for the desk are in the pipeline but declined to elaborate.

At Fortis, Law reported to Philippe Dirckx, head of fixed income in Hong Kong. Dirckx said the firm is looking for a replacement. Law said he joined Fortis about a year ago, before that he was at JPMorgan in Toronto, where he established a fixed income trading book.