Deutsche Bank has drafted in Mark Davis from its Tokyo office to manage the flow business on its regional equity derivatives desk. Davis, who was previously head of equity derivatives sales in Japan, will be responsible for running the new Asia-Pacific sales platform for listed, over-the-counter (OTC) and exotic equity derivatives products.

Turnover in equity markets is subdued at the moment, but the new position reflects a long-term trend, according to Noreddine Sebti, Deutsche's Asia head of equities. "Creating a regional sales platform is in direct response to the growing number of clients who manage their equity derivatives positions on a regional basis, as opposed to a country-specific basis."

That trend will continue as Asia attracts a growing chunk of asset allocations and liquidity in the region's equity markets deepens. Indeed, the value of outstanding OTC equity derivatives contracts in Asia ex-Japan tripled during the three years covered by the last Bank for International Settlements derivatives survey, published in June 2007.

Davis will report to Denis MacCarthy, the head of Asia equity sales, and the bank's regional management.