Calyon, the investment banking arm of Credit Agricole, is re-building its Asian asset-backed team. The French bank has hired Greg Park, himself a former Credit Lyonnais banker, and plans to take on established ABS houses such as Deutsche Bank and UBS.
Park previously ran an award-winning ABS team at CSFB in Hong Kong, after taking over from Raj Shourie in 2001, but left last month amid speculation the bank was closing down its asset-backed operations in Asia ex-Japan. Officially, it remains committed to the ABS product, according to a spokesperson, but Park's position is not being replaced.
Instead, responsibility for ABS is now being passed...
