merrill-lynch-adds-eight-new-directors-in-asia

Merrill Lynch adds eight new directors in Asia

The bank poaches sales executives from European rivals in the region.
Merrill Lynch has appointed three new directors to its equity derivatives sales teams in Tokyo, Hong Kong and Singapore, and has also added five directors in its Asia-Pacific region sales team.

The hires for the equity derivatives sales division are Alan Castagne who was previously with Credit Suisse in London, Anthony Psarionos who joins from UBS, and Simon Andrew who comes aboard from ABN AMRO.

Equipped with 14-years experience in the derivatives space, Castagne will be based in Tokyo and will focus on marketing of institutional equity derivatives to an international client base. Psarionos has extensive experience within equity derivatives and will help the bank expand its coverage of international hedge funds.

Andrew joins the bank as a director in Singapore. With solid experience in hedge fund sales, he will be responsible for expanding the bankÆs equity derivatives and Delta One franchise among the Singapore client base.

ôOur institutional equity derivatives business continues to experience unprecedented growth. To further strengthen our product capabilities in Tokyo, Hong Kong and Singapore, and to build out our business in the region, I am pleased to announce the new hires,ö says Giles Scott, head of Pacific Rim equity derivatives sales.

As for the bankÆs Asia-Pacific regional sales team, the new directors are Brian Lee, Hyun Joo, Pote Harinasuta, Sally Koh and Sonny Lin.

Lee will manage a team of professionals and lead the bankÆs Korean franchise in credit and central bank business, while Joo will be an integral member of the Korean team working on structured credit transactions. Both are joining from Calyon. Lee will report to Barry Dick who is the head of APR credit sales and wholesale, while Joo will report to Lee.

Harinasuta worked for RBS in Singapore before taking up this new position. Reporting directly to Jay Patel, head of the bankÆs Philippines, Thailand, Malaysia, and Vietnam teams, he will focus on developing a solutions-based business strategy for Thailand. He will particularly help the bank expand its credit, local currency, and hybrid business in that country.

Koh and Lin join the bank from JPMorgan and Citibank respectively. At Merrill Lynch, Koh will be marketing structured credit transactions to Singapore-based clients, while Lin will be based in Hong Kong and will help facilitate the bankÆs expansion in the Taiwan derivatives market. Lin will report directly to Chu-Li Hsu, head of the bankÆs Taiwan team.

The bank has also hired Benedict Seetoh, Jonathan Lek and Jennifer Wong for its APR sales team. Seetoh joins the bank as an associate from Lehman Brothers, and will focus on expanding the bankÆs coverage of central banks in South Asia. Lek joins as a vice president from Credit Suisse, and will be working on the bankÆs wholesale strategy with emphasis on third-party distributors in South Asia. Wong, who was previously with ABN AMRO, will concentrate on leveraging the bankÆs penetration into private banks in Hong Kong.
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