Goldman Sachs to merge all Asia-Pacific investment banking businesses
Goldman Sachs plans to merge its investment banking businesses across the Asia-Pacific region to provide clients with more integrated advice and capital markets execution, according to a memo seen by the Post on Thursday.
The US firm was combining its teams in Japan, Australia and New Zealand, and Asia excluding Japan to form a unified regional investment banking business, led by Iain Drayton, said the memo, which a spokesperson confirmed was genuine.
'This structure will enable more holistic client engagement, more effective deployment of global and regional expertise, and increased career opportunities for our people,' the memo said.
Drayton, currently the head of investment banking for Asia, ex-Japan, was expected to work closely with Yoshihiko Yano and Shogo Matsuzawa, the co-heads of investment banking in Japan, as well as Nick Sims and Zac Fletcher, co-heads of corporate advisory in Australia and New Zealand.
In 2006, Drayton joined Goldman in Tokyo as a managing director. He relocated to Hong Kong in 2010 and was named partner in 2014.
The bank has topped the Asia-Pacific equity capital market league table this year, according to data compiled by Dealogic. It captured a 12 per cent market share by arranging 32 deals totalling US$9.8 billion. Its American rivals JPMorgan Chase and Morgan Stanley came in second and third.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
4 hours ago
- South China Morning Post
‘Landmark kid': Japan dad spends US$700,000 to advertise son's photos to share cuteness
A Japanese father who runs a real estate company has gone viral for spending 100 million yen (US$700,000) to plaster advertisements bearing his son's photos on footbridges, buses and convenience stores. The boy, who is known as Yu-kun, is well known in the Adachi area of Tokyo and has been affectionately dubbed 'The Landmark Kid' by local residents. His smiling image is everywhere, from massive footbridge banners and parking signs to city buses. One of the huge adverts featuring an image of Yu-kun as a young boy. Photo: His image even appears in convenience store windows. Yu-kun is not a child star, a model or a prodigy, he is simply the son of a real estate company owner who thought his child was so adorable that the entire city deserved to see him. 'My son was just too adorable when he was little. I thought, all of Tokyo should know,' his father said. To make that happen he turned his son's funniest childhood photos into a full-blown advertising campaign, creating more than 10 different versions in total. To date, he has spent nearly 100 million yen on the advertisements.
South China Morning Post
9 hours ago
- South China Morning Post
Japan's economy contracts less than expected, but US tariffs loom large over BOJ policy
Japan 's economy contracted in the first quarter of the year by less than initially estimated on better inventory and consumption figures, while still backing caution by the Bank of Japan (BOJ) as it weighs its policy path amid heightened uncertainty. Advertisement Gross domestic product shrank at an annualised pace of 0.2 per cent in the three months through March, the Cabinet Office said on Monday, compared with a 0.7 per cent retreat in preliminary data. Economists had expected that initial figure to stand. Personal consumption rose 0.1 per cent, while business spending gained 1.1 per cent. Inventories contributed 0.6 percentage points to growth, while net exports posted a drag of 0.8 percentage points. The revised figures confirmed that the world's fourth-largest economy contracted even before US President Donald Trump added to the headwinds facing the economy by expanding his tariff measures in April. For the BOJ, the data are still likely to support a wait-and-see approach for now, particularly after it slashed its growth forecast for this year at the last policy meeting. People cross a street in Tokyo's Shinjuku business and shopping district. Japan's economy recorded its first economic contraction in four quarters. Photo: EPA-EFE BOJ officials were very cautious about the impact of tariffs, which Governor Kazuo Ueda described as having 'extremely high' uncertainties. He warned last week that tariffs could affect Japan's economy through multiple channels, pledging to evaluate economic and price developments through a broad array of indicators.
South China Morning Post
11 hours ago
- South China Morning Post
HSBC to grow investment bank to serve IPO demand from Asia and Middle East start-ups
HSBC will expand its investment banking business to serve the rising demand of companies from Asia and the Middle East for initial public offerings (IPOs), said the co-CEOs of the bank's biggest profit centre. The plan aligns with the bank's restructuring to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US. Hong Kong sits atop the world's IPO league table, after 27 companies raised US$9.96 billion this year as of last week, according to the London Stock Exchange Group. India's two bourses – the National Stock Exchange and Bombay Stock Exchange – ranked fourth and fifth in the same period, with 113 companies raising US$7.72 billion. 'We have taken out the mergers and acquisitions [as well as] the equity capital market [businesses] from the UK and the US markets,' said David Liao, HSBC's co-CEO for Asia and the Middle East, in an interview on Thursday. 'We want to redirect [growth towards a] deeper focus on Asia and intra-Asia opportunities.' HSBC's co-CEOs for Asia and the Middle East, David Liao (left) and Surendra Rosha (right), during an interview at HSBC's head office in Central on June 5, 2025. Photo: Jonathan Wong Hong Kong, one of the two cities where HSBC was founded in 1865, was a listing market as well as a hub for international investors, Liao said, which prompted the bank to expand its capacity to serve the growing population of wealth management clientele beyond the city's 7.5 million population.
