CVC appoints ex-Citi exec as advisor

The firm has hired Tze Ching Chan to support its investment activities in Asia’s financial services sector.

CVC Capital Partners has appointed Tze Ching Chan as senior advisor to the firm’s global financial institutions advisory board.

Chan, who is based in Hong Kong, will support CVC’s activities in the financial services sector in Asia, the firm said in a statement.

With more than 30 years of experience in the banking industry in Asia, Chan previously served as the head of corporate and investment banking and senior country corporate officer for greater China at Citigroup. Prior to that, he was the deputy chief executive at Bank of China in Hong Kong. 

Chan currently serves as senior advisor to the Bank of East Asia and as non-executive director on the board of the Hong Kong Stock Exchange.

“With [Chan’s] extensive and accomplished career in the financial industry, he will be able to add significant value to developing and realising future opportunities,” Roy Kuan, CVC’s managing partner and head of Asia and Japan, said in the statement.

CVC also recently bolstered its Korean operations team with the appointment of Randall Lee as a managing director based in Seoul in June. Lee was a former Lone Star Advisors director.

The firm currently manages more than $38 billion in assets and is investing from CVC Asia III, CVC Tandem Fund and CVC Fund V, with an aggregate of approximately $10 billion in available equity capital.