US middle market financial services firm Baird has hired Anthony Yan-Hong Siu, director of corporate advisory at Standard Chartered Bank in Hong Kong, to launch a China investment banking practice.
Siu will be based in Baird’s Shanghai office, which also houses the firm’s private equity operating and investment teams. He will focus on cross-border mergers and acquisitions, working with Baird’s existing investment bankers in the US and Europe.
At Standard Chartered Bank, Siu was responsible for cross-border mergers and acquisitions in China. Before, he was a senior vice president at Daiwa Securities SMBC. He has also worked at Dresdner Kleinwort Wasserstein and Schroders.
Baird employs 150 investment bankers in the US, UK and Germany, but Siu will represent the firm’s first Asian investment banking division.
Baird’s director of investment banking, Steve Booth, said the decision to start an investment banking business in China was driven by the need to give Baird’s clients, particularly in the consumer and industrial sectors, access to deals in China.
Baird has been active in China since 2003, when it established a team of 20 operating professionals to help its US and European portfolio companies with sourcing, manufacturing and distributing in Asia. This March, Baird launched a seven-person investment team to work alongside the existing operating team out of Baird’s offices in Beijing, Shanghai and Hong Kong.
Baird’s private equity investment team targets small companies based in China in the manufacturing, business services or healthcare sectors, as well as companies based outside of China that have a Greater China investment thesis and substantial operations in China. This April the team completed its first deal, a $10 million round of growth capital funding for Frontage Laboratories, a research services provider for pharmaceutical and biotechnology companies.