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Mon, 2-Mar-2009 Deutsche Bank has appointed Peter Pfister as director of private equity for Asia-Pacific and Christian Nolting as regional head of portfolio management for the private wealth unit. Pfister and Nolting will be based in Singapore.
Pfister will be responsible for origination, product development and distribution for private equity investments. Nolting will lead a team which advises Deutsche Bank’s Asia Pacific Private Wealth Management clients on investment strategy, asset allocation and discretionary portfolio construction.
Deutsche Bank’s private equity group for the private wealth unit manages $3.3 billion as of December 2008 with 24 bankers in Zurich, Geneva, New York, Baltimore and Singapore.
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Mon, 2-Mar-2009 Mark Machin, Goldman Sachs Group’s co-head of Asia investment banking, is relocating to Beijing to help build the bank’s business in China. Machin is co-head of Asia Investment Banking, ex-Japan, with Ravi Sinha, appointed last June. Cai Jinyong, the president of Goldman’s local joint venture, will continue to run its China operations.
Goldman Sachs Gao Hua Securities is a joint venture between Goldman Sachs and Beijing Gao Hua Securities, offering investment banking services to domestic mainland China clients. The joint venture has struggled in a tough equity capital markets environment. Goldman slipped to tenth in advising Chinese companies on mergers and acquisitions last year from fourth in 2007.
Local media reported recently that Goldman Sachs Gao Hua was laying off employees.
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Wed, 18-Feb-2009 HSBC has made some changes to its leveraged and acquisition finance division in Asia-Pacific that will see Jeff Bennett step up to become head of the team. He will replace David Simons who has left the bank as part of a retrenchment…Compared with many other firms, HSBC’s leveraged and acquisition finance team has, however, been relatively less affected by the job cuts across the leveraged finance industry, partly on account of the bank using a broader definition of the asset class, including not only private equity finance, but also corporate acquisition finance, bridge finance and infrastructure acquisition finance…
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Tue, 17-Feb-2009 Credit Suisse banker Ronan Agnew, who moved to Hong Kong last year to run its Asian private equity banking group, plans to leave the bank, he said in an email obtained by Reuters….
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Tue, 17-Feb-2009 Japanese Finance Minister Shoichi Nakagawa said on Tuesday he would resign after being forced to deny he was drunk at a G7 news conference, dealing a fresh blow to unpopular Prime Minister Taro Aso in an election year….
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Tue, 17-Feb-2009 China Life Insurance Co Ltd, the world’s biggest life insurer by market value, has selected Liu Hui, a trading manager at its asset management arm, to be its head of investment, two sources familiar with the matter said….
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Tue, 17-Feb-2009 Kevin Wang, founder of NPEA Capital, a private equity fund owned by French bank Natixis, has left the firm this week, a person with direct knowledge of the matter said on Friday….
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Thu, 12-Feb-2009 Private equity giant Kohlberg Kravis Roberts & Co hired a former Goldman Sachs Group Inc executive as a managing director, heading up its client and partner group. Suzanne Donohoe, who ran Goldman’s asset management international unit from London, will become the highest ranking woman at the private equity firm. The client and partner group is in charge of all KKR’s fundraising efforts, and Donohoe will be leading capital raising globally for the firm…
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Thu, 12-Feb-2009 Morgan Stanley has fired the China head of its property investment arm for suspected violations of the U.S. Foreign Corrupt Practices Act, several people with knowledge of the matter told Reuters….
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Wed, 11-Feb-2009 Investment bank Morgan Stanley named Robert Kindler global head of mergers and acquisitions. Kindler will be based in New York and continue in his role as vice chairman. Michael Boublik and Mark Eichorn will also become chairman and head of takeovers for the Americas respectively, while Michele Colocci and Dieter Turowski will take the same positions in Europe. Scott Matlock will remain chairman of mergers for Asia.
Kindler, 55, joined the New York-based bank in 2006 from JPMorgan Chase & Co., where he advised on $200 billion in transactions. His clients have included Comcast Corp., the biggest U.S. cable company, and drugmaker Bristol-Myers Squibb Co. Before joining JPMorgan, Kindler specialized in mergers at the New York-based law firm of Cravath, Swaine & Moore, where he advised clients including WorldCom Inc., Johnson & Johnson and Lucent.
Colocci, 45, joined Morgan Stanley in 2004 from JPMorgan. He advised the Swedish government on its sale of Vin & Spirit, the owner of Absolut Vodka, to Pernod Ricard SA last year. He also advised Italy’s Banca Antonveneta SpA on its sale to ABN Amro Holding NV in 2005.
Turowski, 43, joined Morgan Stanley in 1988 and is a former head of mergers in Germany and takeovers in the technology, media and telecommunications industries. His clients include Linde AG, the world’s second-biggest maker of industrial gases.
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Sun, 8-Feb-2009 Koh Boon Hwee, one of the most powerful players in Singapore boardrooms, has been thrown the reins of DBS Group after its chief executive was struck by cancer and as Southeast Asia’s biggest bank faces bleaker times….
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Wed, 28-Jan-2009 Kohlberg Kravis Roberts’ second most senior executive in Japan, Naohiko Kitsuta, has left the U.S. buyout firm after less than two years, the latest example of the teething trouble many private-equity firms experience bedding down teams in Japan….
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Thu, 4-Dec-2008 China Investment Corp has made several recent key appointments hiring bankers with global experience but the country’s sovereign wealth fund is not in a hurry to make any quick deals, sources said….CIC hired Collin Lau, a former Hong Kong-based managing director in charge of private equity funds for Starr International, an investment firm owned by Maurice “Hank” Greenberg, the former chief of American International Group Inc (AIG). Lau will report to Zhou Yuan, the former UBS China head, who Reuters reported has been appointed head of alternative investments of CIC…CIC employs roughly 200 people, one of the sources said…
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Wed, 3-Dec-2008 Carlyle Group, the world’s second- biggest private-equity firm, is cutting 100 jobs, or 10 percent of its workforce, as the leveraged-buyout business remains stalled…
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