|Name: Alan Turner|
Institution: Barclays Capital
Date promoted: January 2005
Title: Head of leveraged and acquisition finance
Years in capital markets: Seven
First job in capital markets: syndicated loan origination
Previous job before promotion: Director, origination and structuring, global loan syndications, Hong Kong
Favourite deal worked on: HDFC $100m five year loan, 2002
Family: Married with two children
Lives in: Hong Kong
Heroes: Charles II, Ricky Villa, Margaret Thatcher
Alan Turner was put in charge of Barclays Capital's Asian leveraged and acquisition finance business in January 2005. He was previously a director in Asian loan origination for Barclays.
Turner's appointment to this new position marked Barclays' confidence in the development of Asian economies and — in particular — the bank's belief that private equity will play a greater part in Asian mergers and acquisitions. Barclays will also be hoping it can replicate its success in European leveraged finance in Asia.
There was a strong start to the year in Asian corporate M&A with Barclays featuring as a mandated lead arranger for the $1.85bn loan that supported Philippines food and beverage producer San Miguel's acquisition of Australia's National Foods.
However, the supply of Asian leveraged buy-outs remains thin and one big transaction can dominate a year. Turner, who has been with Barclays and BZW since 1991, says that the bank monitored the LBO market carefully before deciding to divert resources to this area.
"Our primary concern was whether there was sufficient business to make it worthwhile to set up a team of the quality that we would want and our clients would expect," he says.
"But we established a dialogue with the sponsor community, understood how they thought the market would develop and saw that sponsors were fundraising, both this year and last year. It appeared that the sponsor community at large would welcome an additional debt provider with our qualifications."
Turner adds that Barclays will be selective about how it deploys its balance sheet in the region.
"Our strategy is to target the best deals in the market — and we define best as deals where we can bring our intellectual capital, structuring ability and distribution platform into play, as well as bringing the balance sheet to bear with a sizeable underwrite."
Turner reports to Darcy Lai, head of debt capital markets and investment banking, Asia Pacific.
He lives in Hong Kong and is married with two children.