Experienced Morgan Stanley investment banker Oki Ramadhana will leave Morgan Stanley after almost seven years to take up a new role with rivals HSBC, a source told FinanceAsia.
During Ramadhana’s tenure at Morgan Stanley, the US bank's M&A revenues rose from $105.89 million to $214.12 million, whilst its equity underwriting business fell from $397.46 million to $81.16 million between 2014 and 2017.
Key deals during this period were Sarana Menara Nusantara’s $405 million secondary placement in May last year, and the $1.17 billion acquisition of a 19.9% stake in Bank Danamon Indonesia by Mitsubishi UFJ Financial Group in December, according to data provider Dealogic.
A further $1.21 billion acquisition of a 20.1% stake in Bank Danamon Indonesia by Mitsubishi UFJ Financial Group was filed in January.
Whilst Morgan Stanley has regularly featured in the top ten for M&A and underwriting activity in Indonesia over the last five years, HSBC has struggled to breach the top twenty, Dealogic data showed.
Prior to joining Morgan Stanley in 2011, Ramadhana was an executive director at Goldman Sachs Indonesia, after spells at Merrill Lynch and Rothschild since 1999, according to his LinkedIn profile.
HSBC declined to comment and Morgan Stanley did not immediately reply to emailed enquiries.
