BNP Relocates Asia Credit Head

Emmanuel Dianflon, Asian head of credit derivatives at BNP Paribas in Hong Kong, recently relocated to Paris where he is in discussions to assume a role within the fixed-income group. "Emmanuel has been repatriated to Paris at his request," said Brian Lazell, Asia-Pacific head of credit markets at BNP in Hong Kong, adding that Dianflon is in discussions with management over a new role in Paris. Dianflon is said to have built the French bank's credit derivatives operation in non-Japan Asia, according to market officials. Earlier this year Lazell moved to the Hong Kong desk from London, where he was global head of emerging markets.

"[BNP] will temporarily manage trading activity from Tokyo," according to Lazell. He declined to elaborate or comment further. Bill Xie, credit derivatives trader, resigned to join Barclays Capital Singapore (DW, 7/22).

A credit trader at a rival firm noted that BNP has been among the largest players in the Asian market, "They've been pretty active in Asia--definitely a liquidity provider." He continued that as the non-Japan Asia market is still in its nascent stage, if BNP quiets down, it would decrease liquidity in the market.