HSBC is expanding its new in-house mergers and acquisitions team in Hong Kong with another senior hire.
David Ngo has joined as a managing director for mergers and acquisitions in the bank’s global corporate development team.
Ngo joined this month from Ampere Partners, an advisory firm serving growth companies in Asia, according to his LinkedIn profile.
Prior to that, Ngo worked spent 16 year with Morgan Stanley, almost 12 of which were in Hong Kong working in the bank’s financial institutions group working on M&A and capital markets deals,
Ngo is the first big hire by Willard McLane, the former vice chairman of Citigroup’s global financial institutions group (FIG), who joined HSBC in August as group head of corporate development in Hong Kong.
McLane reports to CFO Ewen Stevenson who said in a memo at the time he joined that McLane’s job would be to a global corporate development function which will “identify and develop inorganic opportunities”,
Earlier this year, Stevenson took on additional responsibility for the group’s M&A plan and said the bank was looking to make “three or four bolt-on acquisitions” across Asia-Pacific as part of its $6bn investment programme in the region. HSBC kicked off its M&A expansion with the $575m purchase of the Singapore assets of French insurer Axa for $575m on August 16.
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