Mark Florance, Rothschild’s executive vice-chairman for Southeast Asia, left the advisory firm on Friday after 23 years with the group. Rothschild’s CEO for Malaysia, Piers Willis, will take over Florance’s role in April.
“After 23 busy and exciting years at Rothschild, nearly all of which have been in Asia, I have decided it is time to have a break,” Florance wrote in an email to friends and colleagues. “It will be sad to leave Rothschild but I need to recharge my batteries and spend some time with my two very young children. I plan to take a few months off and do a bit of travelling. I will also give some thought as to the next phase of my career.”
Rothschild’s financial advisory business, which employs 1,000 advisers in 40 countries around the world, has had a presence in Asia for more than 150 years and set up a permanent office in the region in 1973. Florance, 49, launched Rothschild’s Indonesia office in 1997 and was appointed Singapore-based head of Southeast Asia investment banking in 2006.
Throughout the years he was active in building the firm’s Southeast Asia presence — Rothschild has locally based teams in Indonesia, Malaysia, Singapore, Philippines and Vietnam. The firm offers M&A, strategic advisory and financing advisory, including restructuring.
Notable work includes the debt restructuring of Garuda Indonesia and Astra International, debt advice to Semen Gresik, the $4 billion privatisation of the Philippines’ National Transmission Corporation, RHB’s acquisition of Bank Mestika Dharma, and Navis Capital Partners’ sale of Linatex Holdings.
During the past few years Rothschild has become more active in advising Asia-based clients on equity issues as well.
