Two moves at Deutsche Bank and BoA in Asia
HONG KONG: Deutsche Bank has hired former Goldman Sachs managing director Boon Kee Tan to be its head of client coverage for Southeast Asia, a source said.
Tan, who will be based in Singapore, will also cover Southeast Asian financial institutions. She will also head the bank’s corporate finance operations in Singapore.
Tan is the latest hire in the region for Deutsche Bank as it expands in Asian operations. In May, the bank hired former JP Morgan executive Philip Lee as chief country officer for Singapore and former Bank of America executive Sung Eun Ahn as its new chief in Korea.
Meanwhile, Bank of America Merrill Lynch has hired Winston Cheng – also from Goldman Sachs – as Asia ex-Japan head of its technology, media and telecommunications (TMT) banking group, according to a memo seen by Reuters.
Cheng, who will be based in Hong Kong, was the head of Goldman Sach’s Asia ex-Japan technology group and also headed the bank’s consumer retail group for Asia ex-Japan between 2011 and 2012. Cheng spent more than 10 years at Citigroup before joining Goldman.
Bank of America has made a series of key hires this year, including head of consumer, retail and healthcare investment banking for Asia, George Lin from Credit Suisse, and head of Australia M&A Grant Chamberlain, from Nomura.