Fung will be based in Hong Kong and the newly-created position will see him develop VTB’s structured finance operations in Asia Pacific. He will report directly to Peter Firmin, head of international private finance structuring, and regionally to Damian Chunilal, chief executive of VTB Capital Asia.
Fung joins VTB from Credit Suisse, where he served as head of the North Asia and emerging markets financing group from 2006. Before that, he was vice-president at Citigroup Global Markets Asia — a position he held from 1999 to 2006.
At Citi, Fung predominantly focused on developing the bank’s fixed income business in China, as well as Asia.
VTB has recently been on a hiring spree, ramping up its fixed income division in Asia. It hired Ben Jones and Vikram Shahi earlier this month, both former UBS employees.