Deutsche Bank and Morgan Stanley have both just made big hires in equity structuring, reflecting an uptick in the movement of personnel in this area since late last year as banks bolster teams.

Susan Chan will start at Deutsche as Asia head of equities structuring on September 1, joining from Barclays Capital where she was Asia head of equity and fund structured markets. She is currently on gardening leave and will remain in Hong Kong in her new role.

And a well-placed source confirms reports that Yves Guo is set to move to Morgan Stanley as Asia-Pacific head of equity structuring from Goldman Sachs, where he was an executive director in equity derivatives structuring. He too remains in Hong Kong.

Morgan Stanley declined to comment on the appointment, and AsianInvestor could not confirm his start date.

“Structured products are coming back; there has been tonnes of movement in this space since November,” says a Hong Kong-based recruiter. “[The market is] nowhere near as big as the past, but coming back in a different form.”

Structurers and distributors say volumes are coming back, albeit slowly and steadily, so this hiring seems more to be preparation for the next market cycle rather than a reaction to a big increase in product sales.

At Deutsche Bank, Michael Parker was regional head of rates and equity structuring, with Chan now taking over responsibility for equity structuring, indicating expected growth in this business.

Chan will be responsible for Deutsche’s public-side equity structuring platform in Asia, which primarily focuses on creating bespoke public investment products, structures and solutions for the bank’s clients.

She will report locally to Bhupinder Singh, head of the institutional client group and structuring for Asia, and globally to Amit Bordia, global head of equity structuring.

Chan has 16 years of experience in equity derivatives trading and structuring. Prior to Barclays Capital, she was head of equity derivatives for Asia-Pacific at Bear Stearns, having also run the bank’s Asia-Pacific equity derivatives trading business. She began her career with Credit Lyonnais as an equity trader covering emerging Asia.