BofA ML's Asia ECM syndicate head resigns

Bank of America Merrill Lynch's Hong Kong Asia ECM syndicate head has handed in his resignation after working at the bank for over a decade.

Nick Lee, head of Asia ECM syndicate at Bank of America Merrill Lynch, resigned on Monday after 14 years at the bank.

Lee joined Merrill Lynch’s corporate finance department in Hong Kong in 2000, working in the unit for three years before shifting over to equity capital markets. He became head of Asia ECM syndicate in 2009.

Lee spent the majority of his career in Hong Kong, with spent a brief stint in New York, and joined Merrill Lynch after graduating from Princeton University.

His future plans could not be ascertained, although one source familiar with the matter suggested Lee planned to join an investment firm or fund manager having spent his entire career on the sell-side.

Bank of America Merrill Lynch confirmed his departure but declined to comment further.

Bank of America Merrill Lynch is currently reshuffling its global ECM team. James Fleming, co-head of Asia Pacific global capital markets with Jason Cox, is set to relocate to London from Hong Kong this summer as head of UK equity capital markets. He replaces Oliver Holbourn, who left in November after 14 years at the bank, according to his LinkedIn profile.  Fleming will report to Craig Coben, head of EMEA ECM in London.

Peter Guenthardt, meanwhile, will replace him as co-head of Asia Pacific global capital markets and work alongside Cox. Guenthardt has spent his entire career at UBS, most recently as Zurich-based group managing director and CEO of its investment bank in Switzerland. He previously worked in ECM for Europe, the Middle East and Asia (EMEA).

Guenthardt will report to Jim Probert, Bank of America Merrill Lynch's New York-based head of global capital markets, and Jiro Seguchi, head of Asia Pacific global corporate and investment banking in Hong Kong.

Cox remains co-head of APAC global capital markets.

As of Monday, Bank of America Merrill Lynch was number 8 in the Dealogic league tables for equity deals so far this year in the Asia-Pacific region, with $2.54 billion worth of league table credits and 16 deals completed.

UBS is number 6 year-to-date, with $3.16 billion worth of league table credits and 37 deals completed, according to Dealogic.

Goldman Sachs is ranked number one, with $5.89 billion of league table credits in 29 deals, followed by Nomura ($4.84 billion and 38 deals) and Morgan Stanley ($4.44 billion and 33 deals).

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