IFR Asia - 13.10.2018

People

&Markets

Who’s moving where...

„ CHINA EVERBRIGHT

BANK’s Hong Kong

branch has welcomed

two members to

its syndicated and

structured finance

team in the past two

weeks.

Jean Yan joined last

Monday as a senior

manager covering

the origination

and distribution of

syndicated deals.

She was previously

at ICBC (Asia),

where she was as an

associate director in

the syndicated and

structured finance

team.

Irene Tsang also came

on board recently as

a vice president in the

structured finance

team. She previously

worked at China Citic

Bank International.

„ Kitty Ng has joined

INTESA SANPAOLO

in Hong Kong as

executive director in a

new syndicated loan

team focused on the

Asia Pacific region.

Ng will cover

origination and

distribution of

primary and

secondary loans.

Ng was previously

director of global

loan syndications for

APAC at Scotiabank

for more than seven

years. Before that, she

worked as director of

syndications, which

was also a regional

role, for Rabobank for

about five years.

HSBC names

Guyett new

banking co-head

HSBC has hired former JP Morgan executive

Greg Guyett as co-head of global banking, in

a move that underlines its commitment to

investment banking following the departure

of Matthew Westerman late last year.

Guyett, whose appointment remains

subject to regulatory approval, is to work

ALONGSIDEûCO

HEADû2OBINû0HILLIPSûlLLINGûAû

position that had remained vacant since

Westerman left last November.

The latest senior hire will be seen as

a signal of HSBC’s continued focus on

investment banking following the leak of

a scathing memo criticising the group’s

performance in the advisory business, and

Phillips in particular.

Guyett comes with a CV that includes a

LONGûCAREERûATûAûRESPECTEDû53ûRIVALûANDûlRST

hand experience in Asia – like Westerman,

WHOûJOINEDûFROMû'OLDMANû3ACHSûINûû

'UYETTSû

YEARûRECORDûATû*0û-ORGANû

included two years in Shanghai and Hong

+ONGûFROMûûTOûûWITHûPOSITIONSû

including Greater China CEO and co-head of

INVESTMENTûBANKINGûFORû!SIAû0ACIlCû(EûWASû

also CEO of JP Morgan Japan for three years

from 2007.

Guyett started out at JP Morgan in

investment banking, but has also run JP

Morgan’s global corporate bank, based in the

5+û(EûLEFTûTHEûBANKûINûûANDûWASûMOSTû

RECENTLYûPRESIDENTûANDûCHIEFûOPERATINGûOFlCERû

of California-based East West Bancorp, before

leaving in August.

HSBC has found its investment banking

ambitions under renewed scrutiny following

the abrupt departure of Westerman in

.OVEMBERûûJUSTûûMONTHSûAFTERûHISû

appointment, and an anonymous memo sent

to top managers and the board in August.

The unsigned memo, claiming to be from

a group of concerned senior bankers, was

highly critical of HSBC’s performance in M&A

league tables, where it ranked 42nd globally

INûûACCORDINGûTOû2ElNITIVûDATA

Senior executives say they are taking the

memo “extremely seriously”, but insist that

the criticisms are unfair and the strategy

remains the right one for HSBC.

“We are not giving up on advising our

clients, nor do we need to be at the top of the

league tables,” said one senior insider.

2ECENTûHIRESûINûGLOBALûBANKINGûPOINTûTOûAû

renewed focus on growth, following a painful

period of belt-tightening and disposals in

THEûWAKEûOFûTHEûGLOBALûlNANCIALûCRISISûRISINGû

compliance costs and a deferred prosecution

agreement with US regulators.

On October 5 HSBC named Peter Enns as

GLOBALûHEADûOFûITSûlNANCIALûINSTITUTIONSûGROUPû

lLLINGûAûPOSITIONûTHATûHADûBEENûVACANTûFORû

two years. Enns is a 21-year Goldman Sachs

veteran with especially strong connections

in the insurance sector, adding to HSBC’s

capacity in that area.

“We need to hire and promote people

who are relevant in the advisory space,” said

the insider. “We are making more capital

available to the right clients. The focus is on

growth.”

STEVE GARTON