HSBC Bolsters Asia Technology M&A Team
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HSBC Holdings has hired Jeremy Choy to head its Asia Technology Mergers & Acquisitions (M&A) team, a Hong-Kong based role that will also see him work with technology companies in areas such as initial public offerings and financing, Bloomberg reported, citing unnamed sources close to the matter.
Choy, who is expected to start in his new role as early as next week, joins HSBC from boutique investment bank China Renaissance, where he worked for 4 years, most recently as managing director and head of M&A. He will report to Rajeev Sahney, the bank’s head of Asia-Pacific advisory and corporate, Bloomberg said.
According to his LinkedIn profile, Choy also worked for J.P. Morgan’s North Asia M&A team for 4 years, was an M&A advisor at PacBridge Capital Partners for 2 years, and worked for Goldman Sachs for 5 years.
Bloomberg reported that the volume of technology, telecommunications and media deals in Asia-Pacific is down 47 percent from the year before.
However, it noted several large deals on the horizon, including the sale of a major stake in gaming company Nexon Co. and a potential share sale in Hong Kong by Chinese internet giant Alibaba Group.
Questions & Answers
Q.What will Jeremy Choy's responsibilities include beyond M&A for technology companies?
What will Jeremy Choy's responsibilities include beyond M&A for technology companies?
Besides Mergers & Acquisitions, Jeremy Choy will also work with technology companies on initial public offerings and various financing activities. This expanded remit suggests a broad role within HSBC's Asia Technology team.
Q.To whom will Jeremy Choy report in his new position at HSBC?
To whom will Jeremy Choy report in his new position at HSBC?
Jeremy Choy will report directly to Rajeev Sahney, who currently serves as the bank's head of Asia-Pacific advisory and corporate. This indicates his placement within the bank's advisory structure.
Q.How has the volume of technology, telecommunications, and media deals in Asia-Pacific changed recently?
How has the volume of technology, telecommunications, and media deals in Asia-Pacific changed recently?
The volume of technology, telecommunications, and media deals in the Asia-Pacific region has seen a significant decrease. It is currently down by 47 percent compared to the previous year, as reported by Bloomberg.
Q.Despite the downturn, what are some significant deals expected in the Asia-Pacific technology sector?
Despite the downturn, what are some significant deals expected in the Asia-Pacific technology sector?
Bloomberg noted several large deals are anticipated, including the sale of a major stake in gaming company Nexon Co. Also, a potential share sale in Hong Kong by Chinese internet giant Alibaba Group is on the horizon.
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