The British multinational bank has hired a new Asia Technology M&A team lead as it hopes to expand its investment banking presence in the sector.
HSBC Holdings has hired Jeremy Choy to head its Asia Technology Mergers & Acquisitions (M&A) team, a Hong-Kong based role that will also see him work with technology companies in areas such as initial public offerings and financing, Bloomberg reported (behind paywall) on Wednesday, citing unnamed sources close to the matter.
Choy, who is expected to start in his new role as early as next week, joins HSBC from boutique investment bank China Renaissance, where he worked for 4 years, most recently as managing director and head of M&A. He will report to Rajeev Sahney, the bank’s head of Asia-Pacific advisory and corporate, Bloomberg said.
According to his LinkedIn profile, Choy also worked for J.P. Morgan's North Asia M&A team for 4 years, was an M&A advisor at PacBridge Capital Partners for 2 years, and worked for Goldman Sachs for 5 years.
Deals on the Horizon
Bloomberg reported that the volume of technology, telecommunications and media deals in Asia-Pacific is down 47 percent from the year before.
However, it noted several large deals on the horizon, including the sale of a major stake in gaming company Nexon Co. and a potential share sale in Hong Kong by Chinese internet giant Alibaba Group.
