Prior to his appointment, Parker was managing director and special situations group head of the proprietary investment fund in Asia for Citi Markets & Banking. The groupÆs first investment was in Dragon Power and Parker worked closely on that deal.
Kai Johan Jiang, chairman of Dragon Power, says: "Simon initially joined Dragon Power as a director representing our partner, Citi. We are all delighted that Simon has agreed to join us in a full-time capacity and look forward to his leadership in steering us to the next phase of our company's growth."
And Citi is equally as enthusiastic about the move because it is still invested in Dragon Power: "Consistent with our commitment to our clients and investee companies, we will be working very closely with Dragon Power as they further develop into one of the world's leading renewable energy companies," commented Robert Morse, chief executive officer of Citi's Institutional Clients Group, Asia-Pacific.
Dragon Power has two main business lines: biomass power generation and renewable energy capital equipment sales. It has over 400MW of biomass power generation in operation today making it the worldÆs largest biomass producer. Given ChinaÆs push for cleaner energy sources, itÆs a company with good ties to the government.
Parker, who has spent 18 years in Asia, the last seven at Citi, says: ôI am very excited to have the opportunity to work with Dragon Power, a company with such outstanding resources and enormous potential in the Chinese and international markets. I also look forward to continuing my many relationships within Citi as a core partner to Dragon Power.ö