BNP Paribas pares back Asia fund-linked business

BNP Paribas has cut back its Asian fund-linked derivatives business and institutional sales teams, culminating in the departure of Barry Lau – who headed both teams – at the end of last year. Lau was formerly Hong Kong-based executive director and head of fund derivatives marketing Asia for equities and derivatives. The cutback in the fund-linked business is part of a global pull-back in this area, according to sources in Hong Kong familiar with the matter, because head office is no longer comfo