Yue Seng Chiu, a former banker with Bank of America Merrill Lynch, has joined HSBC to head its Hong Kong coverage within the global banking division.
Chiu will be based in Hong Kong and will report to Che Ning Liu, head of global banking for Hong Kong and Greater China.
Before the appointment, Chiu was a director of Asia origination at BoA Merrill for eight years.
He has extensive experience within capital markets and mergers and acquisitions and has established a broad client network across large Hong Kong companies, according to an internal HSBC announcement.
The hiring of Chiu will strengthen HSBC's global banking franchise in Hong Kong, it said. He will work closely with various product teams within global banking and markets and also with the global private banking division to deliver holistic coverage to key clients in Hong Kong.
HSBC ranks number four in terms of managing new share sales in Hong Kong so far this year, according to Dealogic. Its notable deals include the sale of John Swire & Son’s entire direct shareholding in Swire Properties through two separate block trades that raised $647 million and $630 million respectively.
Last month the bank helped arrange a $530 million sell-down in China Construction Bank by an undisclosed investor, and also acted as a joint bookrunner for a $500 million convertible bond offering by Hong Kong Exchanges and Clearing (HKEx).
The UK-headquartered bank has also helped finance HKEx’s £1.4 billion ($2.2 billion) acquisition of the London Metal Exchange.
HSBC has continued to hire in the region even as other banks are cutting back. Most recently, it announced five senior hires in the resources and energy group in Asia-Pacific.
