Deutsche Bank has hired Neel Laungani as head of technology, media and telecom (TMT) for its investment banking business in Asia-Pacific, according to a source familiar with the situation, as the German bank adds dealmaking capabilities in one of the region’s most promising industries.
Prior to joining Deutsche Bank, Laungani was Standard Chartered’s head of global TMT and has been based in Hong Kong since 2011.
He started his new role on Monday and will continue to be based in Hong Kong.
Deutsche Bank confirmed Laungani’s appointment when contacted by FinanceAsia.
The German bank made the new hire in replacement of Joaquin Rodriguez Torres, its former TMT IB head who left in the middle of last year to join tech-focused investment fund Princeville Global.
Laungani, who started his investment banking career with Lehman Brothers in 1994, will continue to build on his wealth of experience in advising technology companies on business development and capital market fundraising.
With the surge in tech funding, Asia has in recent years overtaken Silicon Valley as the cradle of global technology. Asia is now home to more technology firms than the US. China, in particular, has nurtured a large group of fast-growing startups that are causing disruption across industries.
Deutsche Bank is looking to building stronger ties with Asian TMT companies with Laungani’s appointment. The bank’s recent advisory roles in the TMT space include SoftBank Group’s $6 billion four-tranche senior note offering in September and the Japanese firm’s $5 billion mandatory exchangeable bond into Alibaba last year.
