Credit Agricole CIB boosts fixed-income sales and trading

Crédit Agricole corporate and investment bank has hired five new sales and trading professionals for its fixed-income markets team in Asia ex-Japan, the French investment bank said yesterday, adding that the move reaffirms its strong commitment to the region.

The bank's fixed-income markets division is responsible for all capital markets trading and sales, including foreign exchange, interest rate derivatives, debt and credit, commodities and treasury products. The new hires will all be based in the firm's trading hub in Hong Kong.

Yue Wu is coming on board as an executive director and head of FX sales for Asia ex-Japan, reporting to Steve Nutland, the firm's regional head of FX for Asia, and to Arnold Kan, regional head of sales and deputy head of fixed income markets for Asia ex-Japan. Wu has more than 10 years of FX sales experience and joins from Barclays Capital where he held various positions, including head of FX institutional sales for non-Japan Asia. He has also spent two years in FX sales at Merrill Lynch and four years at Goldman Sachs in Hong Kong and Japan. Prior to that, he worked as an FX options trader and structurer at UBS and NatWest in New York.

Sanjay Tanna joins from Petro Diamond Risk Management in London, where he was head of trading, and will take up a position as executive director and head of Asia energy trading. He will report to Philip Cuthbertson, global head of oil swaps trading. He too has more than 10 years of experience in his field. Before joining Petro Diamond, he was a power options trader at Energy-Koch Trading and an oil options trader at Tokyo Mitsubishi International, also in London.

Heading up the credit trading team within debt & credit markets for Asia ex-Japan, will be Damian Rowe, an executive director, who is joining from Citi in Hong Kong where he was director for Asian credit trading. Prior to that, Rowe worked at ABN Amro as head of Australian credit trading. He will report locally to Swaroop Patel, head of debt & credit markets for Asia ex-Japan, and globally to Bruce Whyte, head of emerging market credit trading.

Rowe will be responsible for overseeing the Asian arm of the bank's global emerging markets credit trading platform and will be actively integrating the Asian product suite with Credit Agricole CIB's existing New York and London trading platforms.

Calvin Cheung has been appointed director of financial institutions sales for Hong Kong, reporting to Anna Cheung, head of financial institutions sales for Hong Kong. In his new role, he will be responsible for sales and marketing of the bank's fixed-income markets products in Hong Kong. He joins from Standard Chartered Bank where he was head of SME (small and medium-size enterprises) sales in Hong Kong. He has also worked at Bank of Tokyo-Mitsubishi UFJ and at the Hong Kong branch of Siam Commercial Bank.

Finally, Tim Haley has been hired as a director and senior FX spot trader for Asia and will join Crédit Agricole CIB after nine years as a spot trader at Royal Bank of Canada in London.

This is the second batch of new hires by Credit Agricole CIB for its fixed-income team in the region in just a few months. At the end of April, the firm announced it had brought on board another five people to boost its capacity within bond origination, sales, trading and research.