Feb 15 (LPC) - HSBC's key leveraged and acquisition finance
bankers in Asia Pacific are leaving their positions, sources
said, raising questions on its strategy for the event-driven
Lyndon Hsu, head of the LAF team in Asia Pacific and Michael
Bevan, head of sovereign wealth funds and financial sponsors,
Asia Pacific will no longer be running their teams, according to
Jonathan McCullagh, head of North Asia LAF and
restructuring, Asia Pacific and Erick Hsu, director in the
financial sponsors group, have left the bank.
A spokesperson from HSBC in Hong Kong declined to comment.
Interestingly, the changes coincide with HSBC's hiring of
Ray Doody as global head of leveraged and acquisition finance in
London. Doody, a JP Morgan leveraged finance veteran, will start
with HSBC in May.
Lyndon Hsu and McCullagh were the most senior members of the
LAF team in Asia. Hsu, a veteran in Asian leveraged finance,
joined HSBC in September 2010 after a 14-year stint with Credit
Suisse. He initially worked with the Swiss bank in Australia and
headed the leveraged finance business there before relocating to
Hong Kong to manage the division for Asia (ex-Japan). Before
joining Credit Suisse, Hsu spent seven years with ANZ.as a
McCullagh joined HSBC from ABN Amro in November 2007 in
London before moving to Hong Kong.
Bevan has worked with HSBC since September 2001, according
to his LinkedIn profile. He was initially a director in the
global banking and markets team in London before moving to the
United Arab Emirates as head of equity capital markets for
Middle East and sub-Saharan Africa. He assumed responsibility
for sovereign wealth funds coverage in September 2013.
Erick Hsu joined HSBC in 2010 from Blue Beacon Capital and
was based in Hong Kong, according to his LinkedIn profile. He
had previously worked at Merrill Lynch and UBS in New York,
handling coverage of the telecom, media and technology sectors.
(Reporting By Chien Mi Wong and Prakash Chakravarti; editing by