VTB adds high-yield trading as it continues Asia expansion

VTB Capital, the investment business of Russia’s VTB Group, has hired Daren Wong as its new head of Asia high-yield trading. He will be based in Hong Kong and reports functionally to Ugo Calcagnini, global head of credit trading, and regionally to Damian Chunilal, Asia chief executive for VTB Capital.

It is a newly created position and Wong’s hiring is part of the bank’s expansion plans for Asia. It is aiming to add further headcount in credit, according to a source, including hiring a new head of investment-grade credit trading. Eventually, it also plans to hire bankers to handle primary debt issuance in Asia, but has to “walk before...