HONG KONG, March 30 --Xinhua-PRNewswire-AsiaNet/InfoQuest Rob Morrison, Chief Executive Officer of CLSA today announced the appointment of Philip Crotty as Head of Investment Banking at CLSA. Mr. Crotty has worked as an investment and development banker in Asia since the early 1980s, during which period he has gained broad experience in all of the Asia Pacific markets. He was most recently Vice Chairman, Global Corporate Finance, Asia Pacific at Deutsche Bank, where he worked for 15 years in various senior management roles with primary responsibility for business origination and expansion. Mr. Crotty has extensive experience across the full range of investment banking products and has managed client relationships at senior levels across a number of industry sectors and markets. He has been involved in advising on and raising finance involving transactions with a combined value in excess of US$50 billion during his career as a banker. (Photo: http://xprnnews.xfn.info/clsa/philip.htm ) Mr. Crotty will focus on consolidating CLSA's position as the leading investment bank for mid-cap clients in the Asia Pacific region with an emphasis on developing CLSA's relationships with larger mid-cap and selected large-cap clients. He will be based in Hong Kong reporting to Mr. Morrison, and will work closely with CLSA's senior management team in expanding the investment banking franchise. "We are delighted that Philip is joining us at this critical stage in the development of our investment banking business" said Mr. Morrison. "We feel that his depth of experience will help us to build on the success we have enjoyed over the last few years, helping us to accelerate the growth of this important division of our group." "I am excited to be joining the leading broking and research firm in the Asia Pacific region" said Mr. Crotty. "CLSA's investment banking business model is tailored to, and focused on, clients in the region. Asia's robust economic expansion and the consequent rapid growth of the mid-cap sector across the region provides CLSA with a significant opportunity to expand its highly profitable investment banking practice in the near term". About CLSA's Investment Banking Business CLSA's investment banking division was recognized as: --'Best Small-Cap Equity Investment Bank in Asia' for 2004 by Finance Asia; --'Best Mid-Cap Equity Investment Bank in Asia' for 2002 by IFR; and --'Runner-up Best Mid-Cap Equity Investment Bank in Asia' for 2003 and 2004 by IFR. In 2004, CLSA's investment banking team completed the largest follow-on offer of H shares in history (US$400 million for Chalco) and was awarded 'Best Hong Kong Equity Deal' by IFR (US$325 million for Dah Sing Banking Group) and 'Best Cross-Border M&A Deal in Asia' by The Asset (US$550 million contested takeover for Harbin Brewery). In 2005 so far, the investment banking team has completed 9 equity and equity-linked capital markets deals as bookrunner, with transactions in India, Indonesia, Hong Kong and Singapore. The combined value of these deals was over US$1 billion. CLSA's investment banking business includes a series of successful joint ventures including China Euro Securities Limited ("CESL"), the first joint venture to be granted a domestic investment banking licence in China following China's accession to the WTO. In 2004, CESL ranked number one lead underwriter in China based on number of transactions completed - CESL led 7 equity offerings. About CLSA Asia-Pacific Markets CLSA is an award-winning brokerage, investment banking and private equity group in the Asia-Pacific Markets. Founded in 1986 and headquartered in Hong Kong, CLSA is a unit of Calyon, the investment banking arm of France's Group Credit Agricole, which merged in 2003 with Credit Lyonnais, to form the 4th largest bank in the world by assets and the 2nd largest bank in the world by Tier One capital. CLSA enjoys substantial staff ownership which contributes to its independent stance and operations. CLSA has over 750 dedicated professionals spread across all Asian and international financial centres. Recognised as one of the top research, sales and execution houses in Asia, CLSA is known for its innovative and independent research. In 2003, CLSA expanded its brand to Japan, offering Japanese equity research and sales services to international investors. CLSA was voted the No.1 Brokerage House for Research and Sales and the MostIndependent Research Brokerage House in Asia by Asiamoney's Brokers Poll 2004. Additional information is available at http://www.clsa.com . Contact: Grace Hung Head of Communications CLSA, Asia-Pacific Markets Tel: +852-2600-8318 Fax: +852-2530-0827 Email: [email protected] SOURCE: CLSA --Distributed by AsiaNet (www.asianetnews.net)--