HSBC poaches Simons from Credit Suisse

HSBC has hired David Simons as head of leveraged and acquisition finance in Asia-Pacific. He joins after eight years with Credit Suisse, most recently as head of leveraged finance for non-Japan Asia.

Simons will take up his new office in mid-May and will lead the bankÆs efforts to build up its strengths in event-driven investment grade and non-investment grade financing in Asia, including leveraged buyouts and corporate acquisition financings, refinancings, recapitalisations, restructurings and bridge financing.

He will report to Kevin Adeson, HSBCÆs London-based global head of leveraged and acquisition finance, and regionally to Frank Slevin, who will join the bank in mid-April as head of global banking in Asia-Pacific.

ôDavidÆs appointment demonstrates our commitment to supporting a leading leveraged finance platform in Asia and will enhance our ability to deliver financing to help our corporate and financial sponsor clients achieve their strategic objectivesö, says Adeson in a written statement.

Simons moved to Hong Kong in July last year to head up Credit Suisse's leveraged finance effort in the region. He was previously part of the bank's leveraged finance team in Melbourne.

HSBC says its enhanced leveraged finance capabilities will complement the development of its equity and debt financing business, including senior and subordinated debt lending, event-driven high yield and preferred equity issuance.

Slevin made headlines as the first banker to move ships in the 2007 post-bonus season when he agreed to move to HSBC in January after almost five years with Citigroup, most recently as chief operating officer of Asia-Pacific investment banking. Before that he worked at BNP Paribas Peregrine for seven years.

Slevin will be responsible for managing the bankÆs corporate and investment banking activities across the region.

Credit Suisse noted that it has recently hired a strong team led by Derek Armstrong, who will rejoin Credit Suisse from Goldman Sachs to run debt financing in Asia Pacific, which includes leveraged finance. The bank is also planning to expand its headcount in the leveraged finance team this year, reflecting its significantly increased market activity in the region, it said.