Mitul Kotecha will continue to lead the global FX and commodities research teams, but will spend more time focusing on Asian regional currencies and markets. The move is part of the continued re-organisation of Calyon's fixed-income team that started in March when Fred Laine, previously head of fixed income, currencies and commodities, took over FX and treasury as well.
Since then Calyon has brought several other senior bankers to Hong Kong, including Steve Nutland from London as head of the FX business, and Sebastian Barbe from Paris as head of emerging markets research.
"The importance of Asia is growing," says Laine. "Asia is a driving time zone û the sun rises in the East, so strategists based here can analyse the New York close and the opening in Asia, and prepare research for the day in Europe. It's more seamless."
Laine says Calyon clients are also asking the bank for more research and particularly for emerging markets analysis. Because of this increased focus on developing economies it makes sense to re-balance the team around the world, says Laine, with more senior people based in Asia.
Twin forces are driving the trend of senior bankers moving to Asia: on the one hand, the banks themselves are keen to move their big hitters to Asia, reflecting the growing importance of clients in the region, and, on the other hand, bankers increasingly consider a placement in Asia as a good career move.