Macquarie names new co-heads of Asia ECM

The Australian investment bank filled the top ECM role in Asia with an internal promotion and an external hire.

Macquarie has appointed Arthur Van Dijk and Jack Yee as co-heads of equity capital markets in Asia, according to a source familiar with the matter.

Van Dijk, who was formerly a managing director of Macquarie’s ECM team with a focus in north Asia, has been promoted to a more senior role to oversee the Australian group’s equity origination business in Asia.

He will be working alongside Yee, who joined from Barclays where he last held the position of head of blocks origination for Asia-Pacific.

Their new roles will be divided with Van Dijk responsible for deal origination while Yee will focus on syndication.

A Macquarie spokesperson declined to comment on the appointments, while a Barclays spokesperson declined to comment on Yee’s departure.

In May 2014, former head of Asia ECM Jeremy Wernert was promoted to regional head of Macquarie Capital, a role which oversees the investment banking unit of the group.

The Australian financial services group has since witnessed a number of departures in the Asia ECM team. Head of China ECM Sofia Liang left the group last year and was replaced by vice president Kelvin Yuen. Another vice president Matthew Cheung joined Nomura as an executive director before Liang's departure.

Van Dijk joined Macquarie in December 2012 from Morgan Stanley, where he was an executive director with a focus of Southeast Asia ECM origination. He joined Morgan Stanley’s ECM origination team in London in 2001 straight out of college and was relocated to Asia in 2005.

Meanwhile, Yee was a former Barclays managing director since 2011 when he joined from Nomura. He worked as head of Asia equity syndicate of the British bank until February 2015, when he was promoted to head of blocks origination for Asia-Pacific.

The appointment of Van Dijk and Yee highlights the bank’s commitment in the Asia ECM business despite dropping down in ECM league tables in recent years.

In 2010 Macquarie completed 28 deals and ranked 17th in Asia-ex-Japan ECM league tables. Last year it slipped to 44th with 18 deals, according to data provider Dealogic. The Australian group's market share has dropped to 0.5% in 2014 from 1.4% in 2010, Dealogic data shows.

In the most recent equity deal Macquarie was a financial adviser and joint global coordinator of China Railway Signal & Communication's $1.4 billion Hong Kong initial public offering. The largest deal by Macqaurie last year was China CNR's $1.3 billion H-share offering.

This article has been corrected to show the correct status of Macquarie's ECM Asia desk prior to the appointments of Van Dijk and Yee, and to correct the timing of Sofia Liang's departure.

¬ Haymarket Media Limited. All rights reserved.
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