HSBC beefs up Asia DCM team

The bank appoints Maneesh Malhotra as Asia-Pacific managing director of commercial banking debt origination; and Chetan Joshi as India’s head of debt capital markets.

HSBC has beefed up its Asia-Pacific debt capital markets team by appointing Maneesh Malhotra as managing director of commercial banking debt origination and Chetan Joshi as head of debt capital markets, India, according to an internal memo seen by FinanceAsia.

Malhotra’s appointment, a newly created role, is effective immediately and will see him relocate to Singapore from Mumbai in the near future.

In the role, he will work closely with the regional and local DCM teams, as well as with the commercial banking arm to coordinate and deliver debt financing solutions across the bond and syndicated loan market for HSBC’s commercial banking clients in South and Southeast Asia, says the memo.

Malhotra will report functionally to Wallace Lam, Asia-Pacific’s head of commercial banking debt origination and high-yield, who is based in Hong Kong. Locally, he will report to James Cameron, Singapore-based head of capital financing.

“This appointment reflects our further commitment to driving enhanced DCM business and revenue generation from the commercial banking client base in Asia-Pacific,” said Alexi Chan, head of debt capital markets, Asia-Pacific at HSBC in the memo. “The creation of a new role focusing on South and South-East Asia aligns with this being a key region of growth for the bank going forward.”

Malhotra has been with the bank since 1997, working in Mumbai as head of debt capital markets, India.

Meanwhile, Joshi will be succeeding Malhotra, also effective immediately. In his new role, he will report functionally to Chan and locally to Tarun Balram, head of capital financing, India.

Joshi has been with HSBC since 2005 and has worked within the DCM team in India throughout his time. Prior to that, he worked at Fitch Ratings in India, where he set up the agency’s structured finance ratings group.

These moves were seen as a bid to boost HSBC’s position as one of the top DCM bookrunners in the region. According to Dealogic data, the bank is second in the league table for Asia ex-Japan DCM deals with $5.3 billion in 2014 year-to-date after Citi.

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