JPMorgan has named Simon Page as head of a newly formed Southeast Asia debt capital markets team and plans to add more debt bankers in Singapore to capitalize on a boom in bond issuance.
Page will retain his current role as co-head of high yield and sovereign business in Asia excluding Japan, but will relocate from Hong Kong to Singapore, according to an internal note seen by Reuters.
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"Over the next few months, we will make additional resource commitments to this new team," said Murli Maiya, head of debt capital markets for Asia ex-Japan in the note.
Page recently worked on bond issues such as Singapore-based MMI International's $300 million five-year senior notes and Berau Coal Energy's $500 million high-yield bonds.
There has been a boom in bond issuance across Asia, fuelled much more by intra-regional investment than was the case in the past, debt syndicate bankers say.
Primary bond offerings from Singapore-domiciled issuers alone more than doubled to $26.9 billion in the first nine months of 2012 from the same period a year earlier, according to Thomson Reuters data.
(Reporting by Saeed Azhar; Editing by Kevin Lim)