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 Most
Independent 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)--