Lydon, who is currently head of UK ECM origination based in London, will work alongside Ashok Pandit, who has been promoted to the firmÆs other co-head of ECM Asia. Pandit is now head of ECM for South and Southeast Asia. The pair will replace Rowena Chu, who has been promoted to chairman for ECM Asia from her current role as head of ECM Asia.
The relocation of two more bankers to this region is further proof of the growing importance of Asia for DeutscheÆs overall business. Only last week the bank moved Noreddine Sebti, its global head of equity trading, to Asia from New York to assume a dual role as head of equities for Asia.
ôCapital markets in Asia-Pacific are not only the fastest growing in the world, but are now home to many of the worldÆs most significant companies and transactions,ö Lee Zhang, the firmÆs head of global banking for Asia-Pacific, said in a written statement. ôThe extra global experience that we are bringing to the region will be of great benefit to our clients and will also help further develop our local talent.ö
The appointments will also ensure greater connectivity between the bankÆs local Asian clients and global investors, the release says.
As chairman of ECM Asia-Pacific, Wat will be responsible for developing the bankÆs regional ECM franchise and for ensuring that the increasingly global needs of its Asia-based clients are being met. Rowena Chu will work with Wat on business strategy and will also provide strategic advice and execution support to DeutscheÆs largest clients û with a particular focus on China.
According to Dealogic, Deutsche Bank is currently ranked third in the ECM league tables for Asia after Citi and JPMorgan with a market share of 7.3%. In 2007 it finished in eighth spot. Among the deals it has worked on in recent years are Alibaba.comÆs $1.7 billion IPO in 2007 and Industrial and Commercial Bank of ChinaÆs $21.9 billion IPO in 2006.
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