BarCap loses three in Asia

Herr Ling Yeoh, formerly head of foreign exchange emerging markets for Asia in Singapore and Amit Bansal, previously head of treasury in Mumbai, have left the bank for Merrill Lynch.

Meanwhile, K.C. Liu, a southeast Asia FX structurer and marketer in Singapore, is also understood to have left BarCap. Liu is thought to be heading to Deutsche Bank.

At Merrill Lynch, Yeoh becomes head of proprietary local currency trading, while Bansal joins as director of south Asia rates trading. Both are based in Hong Kong. Yeoh reports to Rig Karkhanis, head of Pacific Rim foreign exchange and local currency trading, and Bansal to Ravi Mankude, head of rates, local currency trading for the Asia-Pacific region.

A source close to the US investment bank said the Asian fixed-income, currencies and commodities department in Asia has added more than 50 staff across derivatives, trading, sales, structuring and principal investment since January. Merrill Lynch declined to comment on this number or on the new hires.

However, the bank is understood to have lost Frank Ma, a foreign exchange structurer, who is thought to be joining JP Morgan later this month.

Deutsche could not confirm his appointment by press time, while JP Morgan could not be reached. BarCap declined to comment.