Credit Suisse today announced the appointments of Carl Bautista, Mervyn Chow and George Pavey as Co-heads of its Global Markets Solutions Group (GMSG) for Asia Pacific and the appointment of Zeth Hung as Vice Chairman of the Investment Banking Department and GMSG for Greater China. The appointments, announced today by Vikram Malhotra and Helman Sitohang, Co-heads of Credit Suisse’s Investment Banking Department for Asia Pacific, strengthen the management of the Bank’s capital markets and structured products business in a key growth region, and demonstrate continued investment in covering key clients in China.
Mr. Bautista, Mr. Chow and Mr. Pavey will be responsible for leading the growth of Credit Suisse’s equity capital markets, debt capital markets and structured products businesses throughout Asia Pacific. Mr. Chow and Mr. Pavey will have primary responsibility for Equity and Debt Capital Markets origination and execution, while Mr. Bautista will lead Credit Suisse’s structured products business, which encompasses structured financing solutions for corporate clients. Mr. Chow and Mr. Pavey are based in Hong Kong, while Mr. Bautista is based in Singapore.
Mr. Hung will help lead coverage of key clients in Greater China, delivering Credit Suisse’s full range of Investment Banking products and advisory services. He will work closely with Janice Hu, Chairman and Head of Credit Suisse’s Investment Banking Department for China. Mr. Hung will continue to be based in Hong Kong.
“These new appointments have tremendous track records in helping a broad range of clients raise capital across diverse markets and products,” commented Mr. Malhotra. “Their experience and highly complementary skill sets will enhance Credit Suisse’s value proposition to Investment Banking clients in Asia Pacific.”
“Strengthening our GMSG and China coverage management teams makes perfect strategic sense at a time when Asian capital markets and Credit Suisse’s own business are growing rapidly,” added Mr. Sitohang. “It’s also a clear sign of the depth of senior talent at Credit Suisse that we are able to appoint leaders to these positions from within the Bank.”
Mr. Bautista re-joined Credit Suisse in Asia in January 2010 and has been responsible for the Bank’s Fixed Income Structured Products business within GMSG. Mr. Pavey re-joined Credit Suisse in 2007 and has been focused on its Equity Capital Markets business in the Middle East, Africa, Turkey and the Netherlands, while also being responsible for Real Estate Equity Capital Markets in Europe, the Middle East and Africa. He has relocated from London to Hong Kong to take up this position.
Mr. Chow and Mr. Hung, who have been with Credit Suisse in Hong Kong since 1998, have been Co-heads of Equity Capital Markets for Non-Japan Asia since 2009. Over this period they have been integral to the success and growth of Credit Suisse’s Equity Capital Markets franchise.
At the end of the first half of the year, Credit Suisse’s momentum in Asia Pacific capital markets was reflected by its league table positions. According to Dealogic, in the first half of 2011, the Bank ranked #1 for Asia Pacific ex-Japan G3 DCM revenues and #3 for Non-Japan Asia ECM volumes (excluding A shares). For overall core investment banking revenues in the first half of 2011, Dealogic ranked Credit Suisse #2 for Asia ex-Japan (excluding A shares) and #3 for Asia Pacific ex-Japan.
During this period, Credit Suisse has led ECM transactions including Glencore International’s US$10bn London and Hong Kong Initial Public Offering, the US$2.06bn Hong Kong IPO of Shanghai Pharmaceutical, the US$855m US IPO of Renren and the US$884m Kuala Lumpur IPO of Bumi Armada.
In DCM, the Bank has also led a series of high-profile transactions this year, including a US$2bn high yield bond for Reynolds Group, a US$1.65bn dual-tranche bond for Vedanta Resources, a US$550m dual-tranche bond for Guangzhou R&F Properties (the first ever dual-tranche US dollar and offshore renminbi bond issue), a CHF325m bond for Korea National Oil Company and a US$87m debut bond for Hoang Anh Gia Lai – the first ever offshore corporate bond from a Vietnamese issuer.