CIBC continues to build out its trading capabilities with Andy Yeoh and Woo Sok Lee being the latest to join the Canadian bank.
Yeoh will focus on CIBC’s interest-rate swaps and foreign-exchange forwards business. He reports locally to Andre LaJeunesse, who heads capital markets trading in Asia for CIBC, and, functionally, to Alan Speight for interest-rate trading and Duncan Rule for FX forwards. Yeoh, who was previously at VTB Bank in Singapore and has also worked at Deutsche Bank in Southeast Asia, has already started at CIBC.
Lee will start on March 14 and will be part of CIBC’s financial solutions group (FSG) in Asia, with a focus on strengthening relationships with Korean banks and growing the business globally. He was earlier with Merrill Lynch in Seoul and has also worked at the Royal Bank of Scotland in Hong Kong. Lee also reports to LaJeunesse locally and to Eric Belanger for FSG.
Both Yeoh and Lee join at the level of executive director, based in Hong Kong.
LaJeunesse joined the Toronto-based bank in December 2009 as head of fixed income, currencies and distribution (FICD) for Asia, based in Singapore. A few months after he joined, CIBC relocated its FICD team from Singapore to Hong Kong as part of a move to grow the business. Richard Nesbitt, head of CIBC’s investment and corporate bank, said in an interview with FinanceAsia in November last year that the sales-and-trading business was a key part of CIBC’s Asia franchise.