Morgan Stanley Plans Build Up For Nascent Hong Kong Credit Desk

  • 15 Oct 2003
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Morgan Stanley is looking to expand its nascent Hong Kong-based credit derivatives operation in the coming months with a mix of transfers and hires. "We generally believe the Asian market will continue to grow. We've been underinvested," said Richard Cohen, Asia-Pacific credit derivatives trader in Hong Kong. Cohen joined earlier this year from Merrill Lynch, where he was head of Pacific Rim credit derivatives in Tokyo, to establish a non-Japan Asia trading desk (DW, 5/4). "The building blocks have been here—it's just a matter of slotting it in," he added, explaining that the desk intends to leverage off Morgan Stanley's fixed income presence in the region.

The firm is transferring Mitesh Gupta, credit derivatives trader in London, and Winnie Chin, telecom, media, and technology credit trader in New York, in the coming weeks for cash and credit derivatives trading. Additionally, Eric Lim, credit derivatives structurer in Singapore, will move across. Cohen continued that the firm is likely to hire one or two traders early next year.

 

  • 15 Oct 2003

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1 Citi 242,241.25 929 8.19%
2 JPMorgan 223,842.40 997 7.57%
3 Bank of America Merrill Lynch 216,424.41 725 7.32%
4 Barclays 185,098.93 672 6.26%
5 Goldman Sachs 159,205.64 520 5.38%

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2 BNP Paribas 32,284.10 130 6.48%
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4 SG Corporate & Investment Banking 26,569.73 97 5.33%
5 Credit Agricole CIB 23,807.36 111 4.78%

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2 JPMorgan 9,894.90 42 8.58%
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4 UBS 6,098.17 23 5.29%
5 Credit Suisse 5,236.02 28 4.54%