MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
The move is quite the coup for Merrill Lynch, which is bringing aboard one of AsiaÆs most successful DCM bankers.
The move comes a few months after Merrill made moves to expand its debt client business. Pratt will fill the void left in the wake of the HSBCÆs recent hire of Spencer Lake. Lake had been just been promoted from head of debt origination for Asia-Pacific to head of Pacific-Rim debt capital markets before he was plucked for a senior London-based role by HSBC.
Pratt's hiring is part of Merrill's plan to become a major player in the high-grade bond space - and bolster it's league table standings.
Pratt will report to Sheldon Trainor, MerrillÆs head of Asia origination and will be based in MerrillÆs Hong Kong offices.
In the new role, Pratt will be responsible for enhancing and leading Merrill Lynch's debt origination business in the region. His duties will also include providing leadership to the overall Asia DCM efforts.
Pratt joined Credit Suisse in April 2000 as part of its DCM leadership team. In 2003, he took over as head of the DCM business for non-Japan Asia. Recently, he was named as one of three managing directors in Credit SuisseÆs global markets solutions group û an amalgamation of Credit SuisseÆs Asia-Pacific (ex-Japan) equity and debt capital markets group. He was responsible for the origination of all investment grade, sovereign and high yield debt in the Asia (ex-Japan and ex-Australia) region.
Pratt was involved in bringing the very first international debt market deal for the Socialist Republic of Vietnam last year, a deal that took the better part of five years to bring to market. He brings with him vast experience across a range of debt products in the investment grade, high-yield bond and sovereign spaces.
Pratt, along with head of syndicate Alister Moss, helped to build Credit SuisseÆs DCM business into one of the most successful franchises in the region. Last year, Credit Suisse ranked number four among Dealogic's top 10 bookrunners in Asia (ex-Japan, ex-Australia) G3 bond tables.
Credit Suisse is expected to announce a replacement for Pratt shortly.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
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SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.