Goldman Sachs hired BNP's head of flow credit trading in Hong Kong

Jeff Leung, the head of flow credit trading for greater China at BNP Paribas in Hong Kong is understood to have resigned, weeks before the payment of bonuses at the French bank. It's understood that he's off to Goldman Sachs. 

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Neither Goldman nor BNP commented on Leung's change of job. It's not clear what his new title will be at Goldman.

Leung spent seven years at BNP Paribas in Hong Kong after joining from HSBC in 2017. His exit from BNP comes after the bank was predicted to increase its bonus pool by only 5% this year. It also comes after George Sun, BNP's head of global markets for greater China, left for HSBC, where he will arrive on March 11th. Sun himself had been at BNP for nearly eight years. 

BNP Paribas has been shaking up its fixed income business. Francisco Oliveira, the global head of credit and rates trading at the bank, disappeared last September, only to resurface later at SocGen, where he will seemingly be hiring. Conor Davis, a former senior salesman at Citi who is now BNP's global head of institutional sales is understood to be a key figure at BNP in Oliveira's absence. 

As we reported yesterday, BNP has also been hiring in London. 

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