Credit Suisse adds to Asia sponsor coverage group

Credit Suisse has hired Ben Ngai from Citi to focus on sponsor coverage in China.

Credit Suisse has appointed Ben Ngai as a director in its ex-Japan Asia sponsor coverage team to focus on China where international banks are starting to offer yuan-denominated loans. KKR led a $450 million transaction that was financed largely by yuan-denominated senior debt put together by a syndicate of international and local banks.

Hong Kong-based Ngai is returning to Credit Suisse from Citigroup Asia where he was a director in the financial entrepreneurs group and before that a director in corporate finance division of ABN AMRO.

He joined ABN AMRO from Credit Suisse where he was an investment banking associate.

Ngai will report to Matt Whineray, Credit Suisse’s head of sponsor coverage for Asia, ex-Japan, and Zhang Li, chairman and head of China investment banking.