Credit Lyonnais looks to boost Asian derivatives team

French bank Credit Lyonnais is planning to boost its Asian credit and interest rate derivatives teams in the coming months, as part of a drive to build the bank’s structured credit business, according to Frédéric Lainé, Hong Kong-based head of fixed-income and derivatives, Asia.

The bank has earmarked seven new hires, including a structured credit trader and a business manager for the bank’s credit business. Credit Lyonnais has already hired Tony Au, formerly of Fortis Bank Hong Kong, to a newly created position of regional structurer. He will work on the marketing side. “The new hires in credit structuring will strengthen our product offering and complement our other business lines,” said Lainé. “It’s been a weakness for the bank in the past.”

The bank is also planning to boost its derivatives sales team in Korea, Taiwan, Singapore and India in the coming months. “We are keeping an eye open for business development,” Lainé added.