HSBC to bolster Asian structured derivatives operation

HSBC is to expand its structured derivatives team in Asia in an attempt to leverage off its interest rate and currency swaps business.

The bank plans to bolster the range of products for its corporate customer base, with a greater focus on caps and floors, as well as barrier, digital and Bermudan options, according to John Flint, head of regional fixed-income and derivatives trading at HSBC in Hong Kong. “Until now, we have concentrated on the development of domestic interest rate swaps markets in Asia, but now we want to expand the envelope,” he explained.

The Hong Kong-based structured products team will initially focus on markets such as Hong Kong, Singapore and Korea. Three new hires are expected in the coming months in order to build the team further, added Flint.