ABN Credit Head Resigns
Aashish Ponda, head of credit derivatives for Asia ex-Japan at ABN AMRO in Singapore, has resigned, according to officials at the firm. "He focused the team on structured transactions," noted one credit derivatives trader at a rival firm, noting that ABN put its emphasis on structured credit transactions rather than market making in default swaps.
Market officials speculated that Aanders Haagen, in the structured credit products group in Singapore, will likely assume Ponda's responsibilities. Haagen, a veteran of the Asian financial market who joined the firm last year (DW, 11/11), was traveling and could not be reached.
Niall Cameron, managing director and global head of credit trading and debt syndication in London, who recently assumed responsibility for ABN's cash and credit derivatives operation (DW, 6/2), did not return calls. Li Koon, spokeswoman in Singapore, declined comment.