Deutsche’s head of EMTN exits
King Sau Lam, a director at Deutsche Bank and head of euro medium-term notes in Asia, has vacated his role after two years, marking the latest exit by the bank in its debt division, sources confirmed to Asiamoney PLUS.
Lam left the bank mid-September. Details of Lam’s next move has not been released, nor of his replacement at the bank. A spokesperson from Deutsche Bank declined to comment.
Hong Kong-based Lam joined the bank’s global risk syndicate team in June 2011 from Rabobank, also in Hong Kong. At Deutsche, Lam was responsible for transacting private placements for Asia investors and managing bond syndication in Asian currencies.
Lam worked at Rabobank from 2006 to 2011, and was responsible for the firm’s Asian interest rates and FX structuring business. Prior to his time at the Dutch bank, he spent six years as an interest rates derivatives trader with Toronto Dominion Bank in both Sydney and Tokyo.
HSBC adds five to resources and energy group
The bank has made five senior new appointments in the resources and energy group (REG) in Asia Pacific, according to an internal memo seen by Asiamoney PLUS.
Robert McGregor is the new head of power and utilities for Asia Pacific ex-greater China. He joins HSBC from Actis in Singapore, where he was head of global fund-raising for the firm’s energy infrastructure fund. Before this McGregor had been head of Asia power and utilities at UBS for three years from 2005.
Jorge Martinez has joined the bank from UBS in Hong Kong, where he had been head of oil, gas and chemicals for Asia. His new role is head of oil and gas for Asia Pacific. He has also worked for Lehmen Brothers, both in New York and Hong Kong.
Bardin Davis has joined the REG team as head of metals and mining for Asia Pacific. He was previously working for Macquarie Capital, where he held a similar role. Before that, he worked for ABN Amro in Australia and Hong Kong.
Davis Hu and Roshan Menon have both joined HSBC as directors. Hu will cover oil and gas as well as metals and mining in greater China, working alongside Davis and Martinez. He joins the bank from UBS, and has also worked at Credit Suisse and Citigroup.
Menon will lead REG coverage in Australia. He comes to the role from his position as head of oil and gas, Australia, at RBS. Before this, he worked for Citi. He will be based in Sydney and report to Chris Russell, head of global banking for Australia.
The others will be based in Hong Kong and will report to Matthew Wallace, head of HSBC’s resources and energy group.
Meurer named executive chairman at Nomura
Peter Meurer has been appointed executive chairman of Nomura in Australia. He joined the Japanese bank in November 2009 as chairman of investment banking for Australia. Before this, he was vice chairman of Citi Australia and managing director of corporate banking.
He will report to Hiroyuki Nishikawa, CEO of Nomura, Australia. Before working at Citi, Meurer was vice chairman and managing director of corporate broking at Merrill Lynch and before that, vice chairman of McIntosh and Baring Securities.
UBS poaches two from Nomura
Shaun Treacy has joined UBS from Nomura as co-head of the all industries group. At the Japanese bank he had been the global co-head of natural resources and power, as well as chairman of corporate finance for Asia-Pacific ex-Japan.
Before Treacy moved to Hong Kong at the beginning of last year he was Nomura’s global co-head of natural resources and power in London. Prior to that he worked for J.P. Morgan in Melbourne and London. His new role is effective from January 2013.
Steven Drake, UBS’s head of diversified industrials coverage, has been named as Treacy’s co-head.
In addition, UBS India has appointed Nitin Jain as head of fixed income, currencies and commodities (FICC).
He takes on the position from his role as co-head of fixed income for India at Nomura. Before working at Nomura, he worked on the fixed income sales and trading desk at ICICI Securities, for 14 years. At UBS, he reports to Thomas Siegmund, the bank’s head of FICC.
BoA Merrill in markets cuts
Bank of America Merrill Lynch announced around 40 job cuts at the bank’s Asia markets division, last Thursday. This makes up around 4% of the total markets division.
The cuts are part of a plan to cut costs due to the global slowdown as well as increasing regulations, according to market sources. The bank plans to cut around 16,000 jobs by the end of the year, bringing the head count down to around 260,000. A BoA spokesperson declined to comment.
In other news, Gregory Seow has been appointed head of Southeast Asia corporate banking, covering Indonesia, Malaysia, Singapore and Thailand. He is based in Singapore and will report to Steven Victorin, head of Asia Pacific corporate banking and global head of international subsidiary banking.
He has worked for Bank of America Merrill Lynch since 2003 as a managing director in the Asia financial institutions group.
BNP Paribas hires head of cash equity
Lee Cook has joined BNP Paribas as head of cash equity for Asia Pacific and emerging Europe, Middle East and Africa (EMEA). He will be based in Hong Kong.
He moves from BNP Paribas in London where he was head of emerging markets cash equities. Before this, he headed the EMEA cash equity business at J.P. Morgan from 2003 to 2010.
Pang to head capital markets at SSgA
Jacqueline Pang has joined State Street Global Advisors (SSgA), the investment management arm of State Street Corporation, as head of capital markets for SPDR exchange-traded funds (ETF), Asia Pacific.
She reports to Timothy Coyne, head of ETF global capital markets, and Frank Henze, head of exchange traded funds for Asia Pacific.
Pang joins the firm from Amundi Investment Solution, where she was in charge of the capital markets business across Europe. Before this she worked at Amundi as a product specialist for hedge funds based in France, and at ICAP Asia Pacific, where she worked as an inter-dealer broker, based in Singapore. She has also worked for DBS Bank.
Coutts hires head of NRI
UK private bank Coutts has hired Puneet Matta as its regional head of non-resident Indians (NRI), for Asia. He will be based in Singapore and the role is effective immediately.
Matta joins from Aon, where he was chief executive officer for the India business. He has also worked for Credit Suisse in India as head of the bank’s wealth management business in the country, as well as Citibank in India, where he held senior roles in corporate and private banking.
Coutts has also appointed Michael Blake to be a general manager for Asia from his previous position of chief of staff for the wealth division, based in London. In Asia Blake will work alongside two regional market heads, head of South East Asia, Ranjit Khanna in Singapore, and Iggy Chong, market head of Hong Kong, who will lead the front office, working with Ken Sue, head of products and services, Asia.
Chong is also acting as head of north Asia. He has also been appointed chairman of the Coutts Institute in Asia.
In addition, Nick Pollard, Coutts’ Asia CEO, will take on a new role with the private bank that is to be announced soon, although Coutts says that he will remain in Asia.
Amundi makes two senior Asia hires
Xiaofeng Zhong has joined Amundi as chief executive officer for Hong Kong and North Asia, and Thierry Mequillet has been appointed senior executive officer for Amundi Asian joint-ventures.
Zhong joined Amundi from Crédit Agricole in November 2011. He had worked at the bank for 16 years, most recently as managing director of Crédit Agricole corporate and investment bank in Beijing. He will work alongside Ayaz Ebrahim, chief investment officer for Asia ex-Japan equities and deputy chief executive officer of Amundi Hong Kong.
Mequillet changes role from his position as chief executive officer of Amundi Hong Kong and North Asia. He will continue to be based in Hong Kong.
Aviva Investors appoints Asia Pacific CEO
Patrick O’Brien has been named chief executive officer for Asia Pacific at Aviva Investors, effective from October 1. He will report to Paul Abberley, interim chief executive at the firm.
He replaces Erich Gerth, who has left the firm after three and a half years. O’Brien joined the investment manager in September 2010 as chief executive of the North American region. He will continue to be responsible for North America alongside his new role heading up the Asia Pacific team.
Before joining Aviva, he worked at Evergreen Investment Management, Wachovia Global Asset Management and Banc One Investment Advisors Corporation. He will be primarily based in the US but will divide his time between there and Aviva’s Asia officer in Singapore, Taiwan, Sydney and Melbourne.
Tong named chairman of Hong Kong SFC
The Securities and Futures Commission (SFC) in Hong Kong will appoint Carlson Tong as chairman once Eddy Fong steps down from the position in October, after six years.
Tong was formerly the chairman of KPMG for Asia Pacific, having joined the firm in 1979 in the UK. He returned to Hong Kong in 1985, became chairman for China and Hong Kong in 2007, and chairman of the Asia Pacific region in 2009. He retired from the role in April last year.
In his new capacity Tong will work with Ashley Alder, chief executive officer of the SFC.