BNP Paribas has hired a pair of credit derivatives professionals from Societe Generale in Tokyo. Vincent Boyer, credit derivatives trader, and Go Yajima, a credit structurer, will report to Stefane Delacote, head of credit derivatives in BNP's Tokyo office. Delacote said he plans to make additional hires. "We want to build up the team; covering high-grade, high-yield and exotic Japanese credits." He added that demand in Japan is growing from both portfolio managers looking to hedge their books as well as from local investors hungry for credit risk. Boyer and Yajima could not be reached for comment.
Marc Saffon, director of the financial engineering department at SocGen in Tokyo, said the bank will replace the two. A trader from the Paris office will soon join to fill in Boyer's role and SocGen will look to hire a structurer, he added.
