Loïc Fery, Asian head of credit derivatives at Crédit Agricole Indosuez in Hong Kong, relocated to London at the end of last month to assume a new role as co-head of global credit structuring. Fery said in this new position he will structure and promote synthetic credit transactions, including collateralized debt obligations, for the European market. He will continue to manage the Asian credit derivatives operation and will look to expand the business into Japan this year. Both Fery and Benjamin Jacquard, co-head of global credit structuring, who is based in Paris, report to Jean-Michel Beacco, global head of credit in Paris, according to Fery.
"The recent hires of experienced credit specialists in our Hong Kong team allow Fery to focus more time on our European operations where we intend to grow fastest," said Beacco, adding, "However, he will still spend a lot of time in Hong Kong and Tokyo as we want to strengthen our leading position in the Asian structured credit business."
Fery, said to be a veteran of the Asian credit market by his rivals, joined Indosuez last year to establish a credit derivatives operation in Hong Kong for the French bank (DW, 9/23). He subsequently made a number of hires for the desk, including Medes Ma, who joined in April as credit trading manager in Hong Kong, and has assumed responsibility for the trading desk (DW, 4/21). "This is a good move for him," said a market official, commenting on Fery's new role.