HSBC corporate and investment banking and markets (CIBM) has announced two big hires in its equities division. Effective early October, David Scott and Joseph Chang will each answer to the title of co-head of equities Asia-Pacific from HSBCÆs Hong Kong offices.

In the newly created roles, both Scott and Chang will report locally to Anita Fund, head of global markets Asia-Pacific and to Gordon French, managing director, sales and regional treasury management Asia-Pacific. Both new hires will also report functionally to Simon Brookhouse, HSBCÆs London-based global head of equities.

For HSBC, Scott and Chang will manage all aspects of its equities franchise in the Asia-Pacific region, including cash equities, equity finance and equity derivatives.

ôDavid and JosephÆs arrival lays down a milestone in the development of the equities platform in Asia,ö says Fung. ôThey are going to work closely with their global equity colleagues in other regions to make sure we provide a seamless delivery to benefit all our customer groups.ö

Scott joins HSBC from Merrill Lynch in Hong Kong. For the US firm, he was responsible for client coverage, idea generation and servicing of hedge fund clients for institutional derivatives sales.

Prior to working at Merrill in 2000, Scott was at Jardine Fleming Securities in Hong Kong covering the over-the-counter and listed-equity derivatives.

Chang also joins HSBC from Merrill after a nine-year stretch with the bank. From its Hong Kong offices, he was most recently in charge of flow derivatives trading including index/single stock options, variance swaps, forwards and retail warrants for equity derivatives trading.

At Merrill, Chang also held the title of head of delta one trading. In this position he was responsibile for access products, stock borrowing and lending and equity finance. His resume also includes a stretch with Sanwa Financial Products in New York where he was part of the fixed-income derivatives risk control group.