Head of NEA HY exits StanChart
Yung Tan, a director and head of Northeast Asia and Grater China high yield product group, left Standard Chartered on April 8, marking the latest departure at the bank in recent weeks. Standard Chartered did not respond to queries by press time. There is no word on Tan’s next move.
Hong Kong-based Tan’s departure comes one month after Anthony Arnaudy, managing director and head of Northeast Asia debt capital markets (DCM) at Standard Chartered, was let go from bank after three years in his role.
Arnaudy, also based in Hong Kong, had joined Standard Chartered in early 2010, joining from Nomura, where he was head of debt capital markets in Asia ex Japan.
Asiamoney PLUS sources say that Arnaudy’s former responsibilities have been assumed by Karby Leggett, who was elevated to head of capital markets, Northeast Asia, at the end of 2012, and Tee Choon-Hong, global head of CNH capital market products at Standard Chartered, whose role has been expanded to include a broader China focus.
Malhotra leaves BoA-Merrill, Abraham joins capital strategy
Ashish Malhotra, head of debt capital markets at Bank of America Merrill Lynch (BoA-Merrill) has left the American bank, less than a month after he was promoted to his current role.
Malhotra was promoted from his position as head of investment grade and high yield debt origination for Asia. Before this he was head of Asia DCM syndicate. He worked at Deutsche Bank before joining BoA Merrill.
His new role was announced at the same time as the bank hired Devesh Ashra and Hital Desai from Credit Suisse to join the syndicate team.
Meanwhile, Deepak Abraham has been appointed by BoA-Merrill as head of Asia Pacific capital strategy. He will be based in Hong Kong, effective June 1, according to an internal memo seen by Asiamoney PLUS.
He will report to Graham Seaton, head of Asia Pacific prime brokerage. He will move to Hong Kong from Dubai, where he was head of Middle East and North Africa prime brokerage at Morgan Stanley.
Before that, he worked at Goldman Sachs in London for six years, in a hedge fund strategies role, working with institutional and private wealth clients.
BoA-Merril has also hired a director in leveraged finance, Vikram Lamba, who will start with the bank in July, as well as Yuda Zhou, who will join the DCM loan syndication team as a vice president, effective from April. Christopher Hans Gruetzner will also join this month as a vice president on the capital markets team, according to someone with knowledge of the matter.
UBS’ Burnett joins StanChart
Peter Burnett has joined Standard Chartered as regional head of corporate finance for Northeast Asia – a newly created role – effective from April 8.
He will be based in Hong Kong and report to Mark Dowie, group head of corporate finance. He will also work closely with Gene Kim, regional head, global markets, Northeast Asia.
He joins the bank from UBS where he was chairman of global capital markets for Asia. He worked for the Swiss bank for 24 years, in various roles including head of equity capital markets for Asia and CEO of the bank’s Middle East investment banking business.
Apac ECM chairman at J.P. Morgan steps down
Kester Ng, chairman of equity capital markets (ECM) for Asia Pacific at J.P. Morgan is leaving the bank after seven years. He has no plans to join a rival bank, according to an internal memo seen by Asiamoney PLUS.
Ng joined the American investment bank in 2006 as co-head of Asia ECM with Jonathan Back. He took over as sole head in 2007. In 2010 he became co-head of equity capital and derivatives markets (ECDM) for Asia Pacific including Japan and Australia, with Dough Howland. He moved to his current position last year.
He joined J.P. Morgan after working for Goldman Sachs and UBS, as well as for Merrill Lynch for 11 years, where he was head of equity syndicate for Asia.
Morgan Stanley names India co-heads
Aisha De Sequeira and Sanjay Shah will take over as co-heads of Morgan Stanley in India, replacing Jayendra Nayak.
In addition, De Sequeira will continue in her current role as head of investment banking, and Shah will continue as co-head of equity.
Their new additional roles will come into effect from May, when Nayak will leave his full time role with the bank. He will continue to be employed by Morgan Stanley as a senior advisor.
De Sequeira has been with the firm since 1995 and relocated from New York to Mumbai in 2007 to lead the India investment banking business. Shah has been based in Mumbai since he joined the firm in 1996 and became co-head of India equities in 2006.
Kern leaves HSBC for LaSalle
Jason Kern, HSBC’s senior real estate investment banker in Asia Pacific, has left the bank to join LaSalle Investment Management as CEO for the Americas, effective July 1 this year. He will be based in Chicago.
Kern joined HSBC in 2009 as head of the Asia Pacific real estate lodging advisory group, with a mandate to build a real estate investment banking division in Asia.
In his new role, Kern will report to Jeff Jacobson, global CEO at LaSalle.
New wealth management head at Deutsche
Anurag Mahesh has joined Deutsche Asset and Wealth Management (DeAWM) as head of wealth management coverage for Asia Pacific.
He will head up the bank’s wealth management arm across Asia and Australia, reporting to Ravi Raju, head of DeAWM for Asia Pacific.
He moves to the role from his position overseeing management of client assets in discretionary and advisory accounts. Before joining Deutsche Bank in 2007, Mahesh worked at Citigroup for 15 years.
Sidley Austin hires energy partner
Sidley Austin has appointed Tom Deegan as a partner in the firm’s global energy practice, based in Hong Kong .
Deegan has worked in Asia, Africa, Europe, the Middle East and the Americas over the last 20 years, with a focus on energy transactions as well as cross-border M&A, joint ventures, restructurings and project finance.