Goldman relocates Asia-Pacific ex-Japan IBD head, names successors
Matthew Westerman, an 8-year veteran at Goldman Sachs, will step down from his role as head of the firm’s Asia-Pacific ex-Japan investment banking department to become chairman of the bank’s EMEA investment banking division. He will be replaced by Andrea Vella and Kate Richdale who have been named Asia ex-Japan IB co-heads in Hong Kong, according to WSJ.
Ex-Goldman Sachs top executive Katsunori Sago joins Japan Post Bank
Katsunori Sago, Goldman Sachs Japan’s former deputy president, is set to join Japan Post Bank as head of its asset management division, according to Reuters.
His appointment is expected to hasten the lender’s shift to foreign bonds and equities. Sago, whose been with Goldman since 1992, left the firm in June last year as head of its securities division in Japan.
Credit Suisse has two new appointments in India
Credit Suisse has appointed Rajiv Baruah as managing director and head of fixed income for India, the bank said in a statement posted on its website. Baruah will report to Mihir Doshi, CEO for India, and to Brian Yoon, head of fixed income for Asia. Prior to his stint at Credit Suisse, Baruah was with Macquarie Bank in Singapore where he served as managing director for Asian markets. He had also worked for Royal Bank of Scotland in Hong Kong and Singapore as head of sales for private wealth management and third party accounts.
The bank also named Gaurav Pradhan as managing director and head of fixed income sales for India. In his new role, he will be responsible for developing and expanding Credit Suisse’s client base for fixed income products in the country. He will report to Rajiv Baruah and Eng Chien, head of fixed income sales for Southeast Asia and India.
Before joining CS, Pradhan spent 13 years at Deutsche Bank and most recently as the head of credit structuring for South and Southeast Asia. He had also worked at Franklin Templeton Investments and Kotak Mahindra Bank in fixed income and treasury roles.
French asset manager had new managing director and head of Asia ex-Japan
Andrew Au was named managing director and head of Asia ex-Japan at Lyxor Asset Management, replacing Gilbert Tse. The job will be based in Hong Kong and Au will report to Pierre Gil, head of international development at the French asset manager, and to Frank Drouet, head of global markets, Asia Pacific at SG CIB.
Lyxor is part of Societe Generale.
Au joined Societe Generale in 2002 and held positions in the he equity derivatives and the cross-asset solutions teams of the firm. Prior to Societe Generale, he was a senior investment advisor at Schroder Investment Management (HK). He had also worked in several commercial banks in the former British colony.
Bank of America Merrill Lynch loses DCM associate
Daniel Hahn, a debt capital markets syndicate associate at Bank of America Merrill Lynch, has reportedly left the firm to take on a structured finance role at a rival bank, according to Global Capital (paywall). Prior to joining BAML as an analyst back in 2011, Hong Kong-based Hahn spent over a year with the Royal Bank of Scotland.
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