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Capital Markets

Deutsche regains HK sponsor licence in ECM return

Two years ago, Deutsche pulled back in ECM. Now, in Asia, it wants back in.

Deutsche-sign-Cantonese-Reuters-960.jpg
Photo: Reuters

Deutsche Bank has regained its licence to sponsor IPOs in Hong Kong after a series of senior hires that appear to have put it back into the equity capital markets (ECM) picture in Asia, two years after much of that business was pared back.

The website of Hong Kong’s Securities and Futures Commission shows Deutsche Securities Asia Limited back among the list of sponsors with an effective date of September 1. It lists the principals as Albert Chang, Derek Chung and Ian Long.

All three are new – or newly returned. Chang joined from Orient Securities and is now head of corporate advisory for Asia-Pacific. Chung is a Deutsche alumnus who has rejoined as head of the financial institutions group for Asia. And Long left ICBC International Securities to become vice-chairman for investment banking coverage and advisory for Asia at Deutsche.

None has a role exclusively around ECM, but it is understood they feed into an effort to ensure that Deutsche’s overall corporate finance capability can include ECM within its oeuvre. Deutsche has not chased the big-ticket ECM or debt capital markets (DCM) landmarks for some time, but has instead built lucrative niches in areas such as high-yield bonds, structured finance and Indian distressed credit.

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