Credit Lyonnais has hired Tony Au, head of capital markets at Fortis Bank Hong Kong, as a regional fixed-income structurer in Hong Kong to kick start its credit structured products business. Up until now the firm only had credit-default swap traders, according to Frédéric Lainé, Asian head of fixed-income and derivatives in Hong Kong. Au declined comment.
Au will handle both interest-rate and credit structuring, Lainé said. Lyonnais planned its push into the structured credit derivatives market at the end of the year as it looked to bring in the firm's global technology into Asia to catch up with the competition (DW, 12/16). "There's more to come," said Lainé adding, "we expect more hires on the credit structuring side." He continued that in the next few weeks the firm will look to hire a product-oriented credit structure to complement Au, who will focus more on the marketing side.
Au will report directly to Frédéric Truchot, head of fixed income and derivatives sales in Hong Kong, and ultimately to Lainé. Truchot referred calls to Lainé. Au left Fortis last year (DW, 12/2) and was replaced by Philippe Dirckx, head of interest-rate derivatives at Fortis in Hong Kong.
