William Blair Builds in Asia
China, Japan seeing influx of professionals as M&A opportunities and growth plays have helped Asia’s rebound from the recession.
June 17, 2009
William Blair has brought on a new head of its Asian investment banking practice with Andy Kaye.
Kaye has served as an international I-banker with CIBC World Markets, Robertson Stephens, and, most recently, his own boutique. He will work in China with William Blair and develop targeted product offerings.
Now, with the global investment bank, Kaye will build on his experience developing new markets cross-border dealmaking across industries including communications, wireless and IT.
Kaye’s addition comes as the investment banking landscape in Asia-Pacific is undergoing a substantial shift.
Earlier this year, Transworld Capital Group, a China-focused financial advisor Marina Jiang and Shawn Thompson, respectively veterans of Cerberus Capital Management and Barrington Associates, to work in the firm’s California offices. Prior to that, Evercore Partners and CITIC Securities International launched a cross-border M&A advisory practice led by former Bear Stearns Asia chairman Donald Tang.
Smaller institutions bulking up their Asian presence comes as bulge-bracket institutions have substantially cut ranks there. Merrill Lynch cut its Asia-Pacific debt capital markets team, including Asian leveraged finance head Ajay Sawhney and Jon Pratt, head of Asia debt capital markets outside Japan and Australia. LBO activity in Asia-Pacific has slowed to a trickle since the credit crisis began. BofA will continue to reduce positions over the next three years as part of its cost cutting plan. BofA has also sold a $2.8 billion stake in China Construction Bank to help replenish capital.
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