HSBC has appointed Daniel Kim as head of financial institutions, debt capital markets, Asia. In this new role, Kim will work with local debt capital markets teams, the financing solutions group and the financial institutions group within global banking to help banks with senior, subordinated and hybrid debt.
Kim has been with HSBC since 2007, working in both Seoul and Hong Kong. He was most recently part of the bank’s high-yield bond origination team.
In addition to his new role, Kim will continue to support coverage of Philippines and Vietnam clients for cross-border issuance. He reports locally to Stephen Williams, head of debt capital markets Asia-Pacific, and functionally to Alexi Chan, head of DCM origination, Asia.
In addition, HSBC has also appointed Tim Yip as head of cross-border renminbi, debt capital markets, Asia Pacific. Yip is responsible for coverage of both Asian and global issuers aiming to tap the offshore renminbi bond markets. He reports locally to Gina Tang, head of debt capital markets for Greater China, and functionally to Chan.
Yip, who joined HSBC in 2011, will continue to cover certain Hong Kong issuers in their local and cross-border financing, and will also support coverage of Taiwan clients for cross-border issuance.
According to Dealogic, the total financial institution group dollar debt issuance from Asia ex Japan chalked up to $10.3 billion in the first half, 11% less than the same period last year. Although bank debt-raising has been relatively quiet, bankers expect it to pick up in the second half, with more banks looking at Basel III compliant bonds, though mostly in the local currency market. Meanwhile, dim sum bond issuance has chalked up to $7.9 billion during the first half, 5% more than the same period last year.
