Hong Kong hiring quadruples
Investment banks the world over are bulking up their acquisition, finance and underwriting teams in Asia to meet the demand from private equity groups.
Reuters says financial sponsor teams have quadrupled in size in less than a year at some banks based in Hong Kong. The major regional players in private equity M&A include Citigroup, Credit Suisse, Morgan Stanley, UBS, and (drum roll please...) Goldman Sachs, who leads this year's Asia revenue rankings with $31 million this year.
The news service says UBS has moved Angus Barker into the role of head of Asia Pacific sponsor coverage. Credit Suisse and Lehman Brothers have also moved top executives from outside the region into similar roles, and rival banks like ABN AMRO are expected to follow suit, building out their sponsor teams to four or five people from current levels of one or zero.
