MUFG hires to boost Southeast Asia debt coverage

Former Barclays banker Hardik Dalal joins the group in Singapore with a remit across the region but with a focus on India.

MUFG Securities Asia, the overseas brokerage arm of Mitsubishi UFJ Financial Group, Japan's biggest bank, has hired Hardik Dalal as an executive director, according to an internal memo seen by FinanceAsia this week.

The hiring of Dala underscores MUFG’s efforts to boost revenue from its capital markets franchise in Southeast Asia and India, where the Japanese firm has created commercial relationships with Indian lenders in the past few years.

“We have built enough traction with clients in Southeast Asia and India,” Augusto King, the head of capital markets group for Asia at MUFG Securities, told FinanceAsia. “We believe it is the right time to add one senior banker to the team to further deepen our platform in the region.”

Based in Singapore, Dalal reports to King, who is based in Hong Kong.

Dalal, formerly with Barclays, will be covering clients in South and Southeast Asia, with a special focus on India, the Japanese securities firm said.

He has more than 12 years of experience in financial services in India, where he helped borrowers to raise funds in a variety of products, including loans and bonds, structured products, credit risk mitigation, as well as leveraged and acquisition financing.

Prior to Barclays, he was an associate with Deutsche Bank from 2007 to 2010, specialising in origination and structuring across the capital structure for property developers.

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