HSBC has named Stephen Williams as head of capital financing for Asia Pacific, a new role that encompasses all of the bank's capital markets and deal execution capabilities for clients in the region, according to a memo obtained by Reuters on Friday.
The move follows the bank's reorganization of July 2nd which saw the creation of the capital financing unit, to be headed globally by Spencer Lake and responsible for primary funding products including debt and equity as well as M&A execution.
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The bank has also named Justin Chan and Monish Tahilramani as its new co-heads of the Asia Pacific markets division, responsible for secondary trading, following the promotion of the previous head of that unit Gordon French to head of global banking and markets in Asia.
The idea behind the restructuring is to create a 'product neutral' client coverage unit in order to offer better advice to those clients, the bank said at the time. That unit, called banking and headed by Russell Julius in Asia Pacific, sits alongside the capital finance and markets units inside the global banking and markets division headed by French.
A spokesman for HSBC confirmed the contents of the memo.
(Reporting by Lawrence White; editing by James Jukwey)