AT least three banks have reshuffled their debt capital markets (DCM) teams in Asia-Pacific at a time when G3 bond issuances across the region are facing choppy market conditions.
J.P. Morgan has appointed Amy Tan as new head of DCM origination for Asia, ex-Japan, succeeding Mark Follett, who will be taking on a newly-created senior role within the global investment banking (GIB) coverage team in Asia-Pacific.
Follett, who will report to John Hall and Murli Maiya, co-heads of GIB coverage in the region, will leverage his deep capital raising and solutions experience to focus on the large, complex and transformative transactions.
Also reshuffling its DCM team is Societe Generale (SG) CIB, which appointed Raj Malhotra as new head of DCM for Asia-Pacific effective April 1 2018. He will succeed Laurent Morel, who will become global head of financial sponsor coverage with the financial institutions group, effective on the same date.
In his new role, Malhotra will be responsible for further developing SG’s DCM platform in the region, leveraging the bank’s strong advisory, structuring and execution capabilities. He will supervise the DCM teams located in Hong Kong, Seoul and Singapore to meet the growing financing requirements of corporates, financial institutions, sovereigns and public sector entities in the region.
CLSA, meanwhile, announced the appointment of Michael Luk as managing director and global head of DCM. In this newly-created role, Luk will leverage his extensive experience in capital markets to further strengthen CLSA’s DCM capability in Greater China and Southeast Asia.
Luk, who was most recently, head of fixed income at Singapore Exchange, brings to CLSA an almost three decades of experience covering a wide range of investment banking products. He has held various senior management positions, including global head of debt and equity capital markets at ANZ, head of Asia-Pacific DCM at Bank of America Merrill Lynch and head of Asia fixed income capital markets and Asia leverage DCM at Deutsche Bank.
Based in Hong Kong, Luk commenced work on March 1 and reports to CLSA chairman Zhenyi Tang.