Goldman Sachs has named Tim Leissner as chairman of Southeast Asia in an effort to beef up the region’s client coverage team, which continues a busy period of hiring for the US investment bank.
Leissner will retain his current role as vice-chairman of investment banking in Asia ex-Japan – alongside Richard Campbell-Breeden – but will relocate from Hong Kong to Singapore.
His expanded responsibilities include strengthening the bank’s investment banking client relationships across the region and working closely with Hsin Yue Yong, head of investment banking for Southeast Asia.
He will also work with Fred Towfigh, president of Goldman Sachs Singapore, and the other divisional heads, to cross-market the bank’s products and solutions to Southeast Asian markets.
Leissner was previously based in Singapore as head of investment banking for Southeast Asia until March 2011 when he moved to Hong Kong. He joined Goldman Sachs in 1998 and was named managing director in 2002 and partner in 2006.
The role of Southeast Asia chairman was last held by L. Brooks Entwistle, who retired in November 2012.
Goldman Sachs generated $17 million in investment banking net revenue from Southeast Asia this year, ranking 11th compared to last year’s 10th with $46 million, according to Dealogic data.
However, Goldman ranked second for its $295 million net revenue from Asia Pacific ex-Japan this year, just behind UBS’s $310 million.
The move continues a busy period of hiring for Goldman.
In June the bank appointed heavy-hitter Campbell-Breeden as chairman of its mergers and acquisitions group in Asia-Pacific ex-Japan, as reported by FinanceAsia.
Campbell-Breeden, who was also made vice-chairman of investment banking for the region alongside Leissner, was replaced as head of M&A in Asia ex-Japan by John Kim, the co-country head of Korea.
In his newly created role, Campbell-Breeden continues to provide strategic advice to the bank’s clients across the region, liaising with Kim, who relocated from Seoul to Hong Kong and also became chairman of Korea investment banking.
Kim has been replaced in Seoul by David Chung and Dongsuk Choi, who were named co-heads of Korea investment banking.
Meanwhile, Christos Tomaras, who looked after European financial sponsors M&A, relocated from London to Hong Kong to join the Asia ex-Japan M&A Group. Tomaras joined Goldman Sachs in 1998 and was named a managing director in 2010.