Senior technology media and telecoms (TMT) bankers are in high demand in Hong Kong this year (both banks and technology companies are hiring them), even as MDs and directors covering other industries have been cut back.
Technology led all Asia Pacific (ex-Japan) sectors in IPO volume during the first nine months of 2017, raising $8.8bn via 136 deals, according to Dealogic. Hong Kong has become a hub for tech listings this year. Shares in Tencent’s ebook subsidiary China Literature soared 86% on debut last week in the city’s largest tech IPO in 10 years,
TMT is the main “bright spot” in Asia in terms of investment banking sectors this year, says Yvette Kwan, a former APAC investment banking COO at UBS, now a partner at consultancy Quinlan & Associates.
Who are the bankers leading the battle for TMT business in Hong Kong? Here’s a selection.
Neel Laungani, head of TMT APAC, Deutsche Bank
The most recent senior hire in Asian TMT, Laungani moved to Deutsche from Standard Chartered just last month. Laungani joined Stan Chart in 2011 and worked as head of global TMT coverage. He was previously at Credit Suisse and Lehman Brothers.
Peter Chu, co-head, Asia Pacific TMT investment banking, Morgan Stanley
Chu is a senior rainmaker who joined Morgan Stanley from Goldman Sachs in November 2005 as TMT co-head, alongside Daniel Wetstein. He held several roles during his 14 years at Goldman (punctuated by two years at McKinsey), including COO of Asia Pacific ex-Japan investment banking, and head of Asia telecom, media, and internet.
Randy Gelber, head of technology, media and telecom, Asia Pacific, UBS
Industry veteran Gelber moved to UBS in April from SMBC Nikko, where he was head of Americas investment banking, based in New York. This is his third stint in charge of an Asian TMT team, having previously run TMT for the region at Barclays (2010 to 2014) and Merrill Lynch (2009 to 2010).
Jan Metzger, global co-head, technology investment banking, and Asia Pacific head of TMT, Citi
Metzger was promoted into his Hong Kong-based global role in January this year in a management shake-up of Citi’s investment bank. He joined Citi in November 2015 to run its TMT corporate and investment banking business in APAC. He previously spent 10 years at Credit Suisse, latterly as head of TMT investment banking for Asia Pacific.
Hubert Chang, head of Asia Pacific TMT, Barclays
Chang worked in Merrill Lynch’s tech-focused Palo Alto office for nine years, where he reached director rank. He then left the banking sector in 2009 and moved to Hawaii to become president and CEO of Energy Industries Corporation, a renewable energy firm. Chang returned to finance and joined Barclays in Hong Kong in 2012.
Jwalant Nanavati, co-head, TMT investment banking, APAC, BNP Paribas
Nanavati started his Hong Kong-based role in January 2016, having moved from BNP’s Mumbai office where he was head of advisory and capital markets for India. He previously worked for Deutsche Bank in New York, Hong Kong and Mumbai for about nine years, latterly as a conglomerates, TMT, natural resources and real estate coverage banker.
Image credit: xavierarnau, Getty