HSBC has named Michael Bevan head of its financial sponsors group for Asia-Pacific, replacing Lindsay Chu who moved to Nomura earlier this year.
Bevan will continue in his role as head of sovereign wealth and public pension funds for Asia-Pacific, according to a memo seen by FinanceAsia on Thursday.
Private equity firms are increasingly active in the region. HSBC is currectly acting on the sale of Tesco's Korean unit Homeplus which has attracted some of the largest global buyout firms in the world as well as regional and local funds..
Bevan joined HSBC in 1999 and has held various positions within the bank including several years in mergers and acquisitions based in London and, before his move to Asia-Pacific, he headed equity capital markets for the Middle East and Africa.
Based in Hong Kong, Michael will report locally to Martin Haythorne and Che Ning Liu, and functionally to Gilles Collombin.
Chu joined Nomura in June as head of financial sponsors, Asia ex-Japan.