The Royal Bank of Scotland announced yesterday that it has created a new coverage and origination banking team for Asia-Pacific as part of a regional realignment.
The team will be led by John Mullins, currently head of corporate and financial institutions debt origination for Asia-Pacific. Mullins will report regionally to John McCormick, CEO of global banking and markets Asia-Pacific, and globally to Marco Mazzucchelli, deputy CEO of global banking and markets as well as head of coverage and origination for Europe, the Middle East and Africa.
The new organisational structure will allow the firm to focus on financing and risk management across public and private transactions, including debt and equity in local, regional and global markets. It will also "facilitate a more cohesive, focused and efficient delivery to our wholesale clients", McCormick said in a press release.
Mullins joined RBS in Japan in 2003 as a managing director to establish a capital markets business in Asia. He was appointed head of global banking and markets for Japan in 2004 to expand the Japanese business across multiple products and subsequently assumed the role of head of debt markets origination Asia-Pacific, in 2006. He moved to Hong Kong in 2008 to head corporate and financial institutions debt origination for the region.
Mullins had previously worked for Bankers Trust and Daiwa Securities in New York. After 10 years in the US, he moved to Tokyo in 1999 to re-establish ING Barings' structured finance business in Asia.
The new Asia-Pacific coverage and origination banking department will include several businesses, and some new team members.
The regional corporate finance group, which will handle mergers and acquisitions and sector specialist capabilities, will be led by Nick Rowe, who will assume responsibility for this group in addition to his current role as co-head of corporate finance in Australia.
John Wade has been appointed head of primary debt markets Asia-Pacific, a newly created role that will consolidate the corporate and financial institutions debt capital markets origination businesses, as well as debt syndicate. The debt syndicate team across bonds and loans will continue to be co-headed by John Wade and Steve Hughes.
The equity capital markets team will continue to be lead by John Sturmey.
James Pearson will remain head of the financial institutions group across the region, targeting clients in the banking and insurance sectors.
Sanjeev Kumar will continue to manage corporate finance and risk solutions (CFRS) regionally. The firm said that the CFRS team will play an increasingly important role collaborating with the investment bankers so as to offer more products to the bank's wholesale client franchise.
Andrew Chick will continue to lead the corporate and financial institutions debt origination team for Australia and New Zealand.
