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CIBC's fixed income, currencies and distribution activities move to Hong Kong


Date: Monday, August 17, 2009
Author: Hedgeweek.com

CIBC's fixed income, currencies and distribution activities in Singapore are relocating to a new office in Hong Kong from 17 August.

The decision follows a review of opportunities to strengthen client relationships and grow its FICD business in Asia.

Through the new trading and sales office in Hong Kong, FICD will pursue new business throughout greater China and North Asia while continuing to service current clients in the region.

Going forward, fixed income, currencies and distribution activities will be led from Hong Kong, with enhanced distribution focus from the firm's Tokyo office. CIBC's other operations in Asia are not affected by this change.

In support of the relocation, CIBC has appointed five people reporting to Andre LaJeunesse, managing director and head of FICD in the Asia Region.

Peter Shepherd has joined as executive director, financial solutions group, focusing on fixed income trading and sales. He is relocating to Hong Kong from CIBC's Singapore office.

Manabu Nakagawa has also been appointed executive director, financial solutions group. Nakagawa will assist in the transition of the FX trading book to Hong Kong and upon completion of that work will return to Tokyo to focus on FX sales and enhancing CIBC's Asian distribution capabilities.

Joe Cortese will join CIBC in the new Hong Kong office on 17 August as executive director, financial solutions group focusing on FX sales. He most recently worked in Canada for a large investment bank.

Patrick Bei will also join CIBC on 17 August in Hong Kong as executive director, financial solutions group, focusing on FX sales. He most recently worked in the Hong Kong offices of a large investment bank.