BNP Paribas hires North Asia high-yield head

Former Standard Chartered high-yield banker Yung Tan has joined BNP Paribas as head of North Asia for high-yield capital markets.

Tan, who left Standard Chartered in April, started at BNP Paribas this week. He re-joins his old boss Sameer Sopori, BNP’s head of high-yield capital markets for Asia Pacific, who left Standard Chartered in 2011. Tan reports to Sopori and has the title of managing director.

Tan was previously head of the high-yield product group for Northeast Asia and Greater China at Standard Chartered, and had worked at the bank for about three years.

Shu Duan, previously an associate director within the same group at Standard Chartered, has also joined BNP Paribas and came aboard earlier. Yung Tan declined to comment.

Standard Chartered, which has been hiring and building its debt franchise during the past two years, has seen a number of departures in recent months. Tan Kee Phong, who headed Singapore debt capital markets for the bank has left, and according to market sources, is headed to OCBC to head the bank's Singapore debt capital markets business. Donna Kng, who was working with Tan, also left Standard Chartered, and is said to be joining OCBC. In May, Eric Chan, a managing director, who headed loan syndications for Northeast Asia, also left the bank. Standard Chartered confirmed the departures and OCBC declined to comment.