Houlihan Makes Hong Kong Hire
The investment bank continues Asian expansion as uncertainty over China’s economic future builds
January 14, 2010
Houlihan Lokey has enlisted Bing Chen to join its ranks as a managing director in Hong Kong.
Chen will be responsible for growing Houlihan Lokey’s advisory services unit in Asia.
Chen is a graduate of Columbia Business School; previously, he served as finance chief of Comdisco Europe and was director of corporate strategy at Deutsche Bank Americas. Calls seeking comment were not returned by press time.
Private-equity firms and banks have increasingly expanded their presence all across Asia — and, particularly, into China — as China’s economic stimulus package has given businesses there a major shot in the arm.
JC Flowers & Co. enlisted former Financial Services Authority chairman David Morgan in November to develop its investment portfolio in Asia, with JC pro Ravi Sinha on the way out.
Earlier last year, Evercore Partners and CITIC Securities International established a partnership to create a cross-border M&A advisory practice led by former Bear Stearns Asia chairman Donald Tang. And BNP Paribas made its most senior hire for its Chinese practice, tapping Margaret Ren, former chair of Merrill Lynch’s China practice, to explore opportunities in greater China.
Funds have set sights on Asia and China as well. Riverside Co. has been preparing a smaller fund for deals in Asia — its first, as Mergers & Acquisitions previously reported. And Carlyle Group completed its fourth fund in 2009, preparing more than $1 billion for Asia investments, and launched a Chinese PE fund with the blessing of Beijing authorities earlier this week.
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