Haitong launches derivatives markets business as part of global expansion

The new business will develop a fully integrated and cross-asset trading and risk management platform, with full FICC and equity derivative origination and distribution capabilities, backed by a cross asset structuring team.

Haitong, part of Haitong Securities which is one of China's leading investment banks, has begun its global expansion drive in Europe with the creation of a derivatives markets business.

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Haitong launches derivatives markets business as part of global expansion

The division will be headed up by Paul Frost-Smith, a former senior managing director in fixed income at Credit Suisse and head of financial markets at Swiss Re. The new business will develop a fully integrated and cross-asset trading and risk management platform, with full FICC and equity derivative origination and distribution capabilities, backed by a cross asset structuring team.

The derivatives business will provide access to the Chinese financial markets, manufacture European products for distribution in Asia and emerging markets, and offer markets-based solutions to investment banking clients, enabling them to hedge and adjust their exposures.

“Offering derivatives products and solutions to help international clients manage their risk across multiple asset classes and geographies has never been more important. We have a unique opportunity to build a truly cross-asset markets capability to address our clients’ increasingly complex investment and risk management needs. Our aim is to develop a truly global markets franchise that will help all our clients throughout the regions in which Haitong operates,” said Mr Frost-Smith.

As well as Mr Frost-Smith, Haitong has made several other senior appointments.

  • Clemens Lansing will head up Trading and Risk across asset classes and spent 14 years at JPMorgan managing Flow Derivatives Sales & Trading and Proprietary Derivative and Relative Value Trading during his time there. Clemens most recently spent 3 years at UBS where he managed European Flow Derivatives. Clemens was also a Founding Partner and CIO at Castlegrove Capital and is a Supervisory Board member of First Private Investment KAG, a German asset manager.
  • Dean Tyler will lead the international distribution of FICC products. Dean brings an 18 year track record in FICC markets with a valuable combination of both sell-side and buy-side experience. Most recently Dean built distribution platforms for Sberbank CIB and VTB Capital in London, New York, Moscow, Dubai, Hong Kong and Singapore.
  • Ying Xiong will lead the distribution of equity-related products to the international client base. Ying joins from Morgan Stanley where she spent 5 years, most recently as Head of the UK Institutional Derivatives Solutions Group. Before this Ying worked for Barclays Capital in Investor Solutions for 5 years in both New York and Hong Kong.
  • David Le Broussois joins from Sberbank CIB in Moscow where he has been heading up the Financial Engineering team for the past 3 years. Prior to that he spent 7 years at Citigroup in London as Head of Hybrid Structuring and before that 2 years at Société Générale as a Rates & FX structurer.
  • Robert Green has been appointed Business Manager to implement the platform having most recently spent 7 years in trading management at Millennium Management LLC and before that 10 years at JPMorgan in various derivative, trading and financial support roles.
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