ANZ has appointed CK Lam as global head of local markets trading. Based in Singapore, Lam will report to Eddie Listorti, global head of FX and commodities, and to Richard Huston, head of global markets for Asia-Pacific, Europe and America.
Lam’s main responsibilities are to grow ANZ’s FX and interest rate trading business in Asia-Pacific. His appointment follows that of Listorti who joined ANZ in Sydney in September as part of the bank’s efforts to strengthen its Asia-Pacific commodities and trading businesses.
"CK is an important hire as we build out our Asian rates and FX franchise business," said Listorti in a statement.
Lam brings to the table more than 20 years of trading experience and a strong track record in building businesses, developing new products and bringing through talent. He has spent the past three years running a trading portfolio at Citadel Asset Management in Hong Kong.
In addition to his Citadel experience, Lam has management and trading experience from his time with J.P. Morgan Chase/Chase Manhattan Bank and Bank of Tokyo. Most notably, he was instrumental in building the G10 and Asian currencies trading team at J.P. Morgan Asia. He also has a record of successfully engineering and introducing new products into new markets.
The global head of local markets trading is a new position for ANZ. It falls in line with a trend in the past year of banks expanding their regional trading businesses, drawn by the region's faster growth rates and less stringently regulated markets.
ANZ is Australia's fourth-largest bank by market capitalisation. Besides Australia and New Zealand it is also active in 25 other countries and has more than 600 specialist markets advisers across its global network. The bank is a leading provider of Australian and New Zealand dollar financial market products in Asia-Pacific from its Singapore dealing hub.