Monday, 29 August 2016
Last updated 7 min ago
Jul 3 2012 | 10:43am ET
Dymon Asia Capital has hired its second top executive this year.
The Singapore-based firm named David Chan its new CEO, Bloomberg News reports. Chan most recently led Goldman Sachs' global macro trading effort in the region.
Chan's hiring follows that last month of former SAC Capital Advisors Asia chief Jay Luo as president and head of risk management and operations.
As with Luo's hire, Chan's is designed to allow Dymon founder Danny Yong to focus on managing the US$2.85 billion firm's money. But Chan, who hired Yong at Goldman Sachs 12 years ago and who worked with him for six, will also help out with the firm's interest-rate trading.
"Right now, the fund's investments are skewed towards foreign exchange, where a large part of our risk and our revenues are derived," Yong told Bloomberg. "David's strong foundation in Asian interest-rate trading, as well as his track record in building world-class trading businesses, will be hugely complementary to our existing business and will help us achieve our goal of becoming Asia's premier macro hedge fund manager."
Dymon is up 1% this year.