HSBC has made a series of changes to its Asian DCM operations following the promotion of its previous head Stephen Williams. Like a number of other investment banks, HSBC has been in the process of setting up a global investment banking financing group that incorporates ECM and DCM, although the two have not yet been fully merged.
In Asia, global investment banking finance will be run by Williams and co-head Danny Palmer, who is also global head of equity capital markets. In Williams place, Asia Pacific debt finance will now be headed up Aaron Tan and the affable Andy Cairns.
The two MD's will be responsible for a roughly 45 strong group incorporating domestic and cross border bond origination and syndicated loans for Asia Pacific including Australia. Syndicate, securitization and transaction management, on the other hand, have been carved out and will be respectively run by Bryan Pascoe, Sarwar Ahmed and Andrew Ferguson.
Tan was previously responsible for Greater China coverage and corporates, while Cairns oversaw sovereigns and FIG. They will be joined by a third MD, Joel Consing, who will also report to Palmer and Williams.
Consing is to re-locate from Singapore to Hong Kong and will take up a new role as head of debt advisory. This involves leveraging the overall investment banking platform to make sure HSBC does not miss out on any financing opportunities. Two of his main briefs will be liability management and situational finance.
Consing was previously head of South East Asia DCM based in Singapore and before that head of DCM in the Philippines where he secured HSBC a number of sovereign mandates thanks to his close relationship with the former Finance Secretary Jose Camacho.
His departure opened up a job in Singapore, which has been filled by Anasuya Dhoraisingam, who becomes head of debt finance for Singapore. Dhoraisingam has been appointed as a director reporting to Cairns and Simon Cooper, the local head of corporate and investment banking.
She joins HSBC from Deutsche Bank where she specialised in distributing structured trade and export finance products. Prior to Deutsche Bank, she covered primary and secondary loan origination and distribution at Citigroup in Singapore and before that held a syndicate job at ABN AMRO covering South East Asia and India.