Bnp paribas has made a number of hires in its cash equity division in Asia, as it seeks to build out its regional franchise ahead of an expected increase in equity trading volumes. In the last three months, the firm hired or relocated about 20 people into its Asia equity research, sales, sales trading, electronic trading and transactional coverage groups. The moves are the latest sign that bankers in the region expect equity trading volumes, if not new-issue volumes, to pick up as international investors begin accessing domestic Chinese shares via the Shanghai-Hong Kong Stock Connect scheme, and as markets in India and Indonesia rally following elections this year, among other drivers. This renewed interest in hiring cash equities staff also reverses a trend over the past couple of years that saw many firms scale back in cost-heavy business lines in an effort to save money. Standard Chartered, for example, recently added four people to its cash equities sales team in Asia.
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