Asian derivatives: Standard Bank and Citigroup building up

Two new articles underline the strength of the market for Asian derivatives recruitment.

According to Futures & Options Week, Citigroup is establishing a new futures trading team in Singapore. The bank is reported as saying the desk will be expanded in the coming months to meet growing demand from hedge clients.

Separately, Derivatives Week reports that Standard Bank is gearing up for a push into Asian derivatives after transferring Michele Maffei, formerly head of its global rates business based in London, to Hong Kong. Maffei is reported as saying the firm will recruit 6-10 staff for sales and trading roles in areas such as rates, equity derivatives and credit derivatives.

Headhunters report a lack of derivatives talent in Asia, and say staff are frequently drawn from London and New York.