Lehman gets new Asian ECM head

Firm internally relocates new head of Asian ECM from London.

Lehman Brothers has continued its regional hiring push, bringing David Douglas out from its London operations to take on the position of head of Asian equity capital markets (ECM). In total, Douglas brings over 20 years of experience to the Hong Kong based role and will report to Joonkee Hong, Lehman's managing director and head of global finance, Asia-Pacific.

Since joining Lehman Brothers in 2002, Douglas has played an integral role developing the firm's European ECM franchise. Based in London, he was responsible for the US investment bank's French ECM activities.

For example, he was heavily involved in advising France Télécom on the €1.44 billion ($1.76 billion) IPO of Pages Jaunes - the country's largest ever IPO and the government's €1.30 billion ($1.59 billion) IPO of Autoroutes Paris-Rhin-Rhone. Both of these transactions occurred in 2004.

Prior to Lehman Brothers, Douglas spent five years at CSFB where he was head of ECM for France, with a primary focus was on the tech sector.

His relocation to Asia follows an active regional hiring splurge over the past few months - with more announcements to come. Recently, Euoo Sung Min was recently named CEO of the bank's Korea operations, taking on the role after spending time as vice chairman for Woori Finance.

James Lee also joined the firm from UBS one month ago as head of the derivatives solutions group, while Sarab Bhutani relocated to Hong Kong from New York as head of Lehman's financial sponsors group.

In Japan, the bank also recently appointed Masaru Shibata as head of Japan M&A.

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