CLSA forex trades exec leaves

Business | 18 May 2021 11:46 am

CLSA Ltd’s global head of rates and currencies trading, Tim Yip, has resigned from the Hong Kong brokerage, adding to a spate of departures from a unit that’s been a key revenue earner, Bloomberg reports.

Yip, one of the highest paid in the fixed-income division, quit two weeks ago after more than four years at the firm, said people familiar with the matter, who asked not to be named discussing confidential information.

CLSA’s fixed income division has experienced departures since global head John Sun resigned in September. He was followed out the door by Leo Tong, the global head of debt origination, in January and more than half the team that focused on bond sales in Hong Kong. With Yip, CLSA loses the head of a business that has contributed about 40 percent of the fixed-income unit’s total revenue, the people said.

A Hong Kong-based spokesperson at CLSA declined to comment.

Sun was replaced by Shi Liang, a former vice president at its parent Citic Securities Co. who was transferred from Beijing.

 



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