Portfolio Manager

Portfolio Manager – North Asia Rates& FX

The Portfolio Manager will manage a North Asia rates and foreign-exchange investment portfolio within the Fixed Income business. The role will develop and execute macro directional and relative-value strategies across interest-rate swaps, cross-currency products, FX spot, FX forwards and swaps, and related instruments in North Asian markets, with responsibility for investment research, portfolio construction, trade implementation and risk management.

The Portfolio Manager will combine fundamental analysis of regional central-bank policy, macroeconomic conditions, government issuance, institutional flows and currency dynamics with market structure, pricing and quantitative analysis. The role requires disciplined risk-taking across multiple complementary rates and FX strategies and close collaboration with Fixed Income Management, risk, trading, operations and other platform functions.

Key Responsibilities

• Develop and manage a diversified North Asia rates and FX portfolio across macro directional, curve, basis and relative-value strategies.

• Identify and implement opportunities in interest-rate swaps, cross-currency basis, FX spot, FX forwards and swaps, non-deliverable forwards, government bonds, options and related instruments across North Asian markets.

• Conduct fundamental research on regional central-bank policy, macroeconomic conditions, fiscal policy, capital flows, currency pegs and bands, and institutional positioning across North Asian economies.

• Analyze yield curves, swap spreads, cross-currency basis relationships, FX forward curves, tenor dislocations, volatility and cross-market relationships to identify attractive risk-adjusted opportunities.

• Construct and manage macro directional and relative-value positions, cross-currency basis strategies, FX carry and convergence trades, and micro relative-value trades across the North Asia rates and FX complex.

• Maintain a clearly documented investment process covering idea generation, entry and exit criteria, scenario analysis, portfolio construction and post-trade review.

• Manage portfolio exposures within approved limits for capital, value at risk, stress, drawdown, liquidity, concentration and other applicable risk measures.

• Monitor positions and market conditions continuously and adjust risk promptly in response to changes in central-bank policy, currency regimes, liquidity, volatility or investment assumptions.

• Work closely with Fixed Income Management and independent risk teams on portfolio reviews, stress testing, risk attribution and capital allocation.

• Coordinate with traders, technologists, operations, legal, compliance and other platform teams to support efficient and controlled execution.

• Communicate portfolio positioning, performance drivers, material risks and market views clearly to management and relevant control functions.

• Comply with all applicable legal, regulatory, compliance and internal risk-management requirements.

Skillset Requirements

• Bachelor's degree or equivalent experience in finance, economics, engineering, mathematics or another quantitative discipline.

• Extensive professional experience in North Asian rates and/or FX trading or portfolio management within a bank, hedge fund, asset manager or other financial institution.

• Deep knowledge of interest-rate swaps, cross-currency basis products, FX spot, FX forwards and swaps across one or more North Asian markets (HKD, CNH/CNY, KRW,TWD or similar).

• Strong understanding of regional central-bank policy frameworks, currency peg and managed-float regimes, rates market structure, government issuance and institutional investor behavior in North Asia.

• Demonstrated ability to develop and execute macro directional and relative-value investment strategies across rates and FX.

• Strong portfolio-construction and risk-management skills, including scenario analysis, stress testing, liquidity assessment and disciplined drawdown control.

• Ability to interpret market, macroeconomic and quantitative data and translate it into actionable investment decisions.

• Strong judgement, accountability and the ability to operate effectively in fast-moving markets.

• Clear written and verbal communication skills and the ability to collaborate with investment management, risk and platform functions.

Preferred Qualifications

• Postgraduate degree or professional qualification in finance, economics, engineering or a related quantitative discipline.

• More than five years of dedicated experience in North Asian rates and/or FX markets, with exposure to multiple central-bank policy cycles.

• Experience trading across Hong Kong, Singapore and other major Asian financial centres.

• Familiarity with both market-making and proprietary risk-taking environments.

• Experience building a multi-strategy rates and FX portfolio with complementary sources of return across macro directional, relative-value and carry strategies.

• Mandarin, Cantonese, Korean or other regional language capability appropriate for market analysis, alongside strong English communication for international investment-team collaboration.