CVC Asia Pacific, a joint venture between CVC Capital Partners and Citigroup, has appointed Hong Kong financier Francis Leung as senior advisor in its Asia office.
Leung will work with CVC to develop investment opportunities in Greater China and he will advise CVC’s companies and management, the buyout firm said in a statement.
Leung was chairman of Citigroup’s Asia investment banking arm until last year. Leung previously worked as vice-chairman at BNP Paribas Peregrine.
Leung’s appointment is likely to be a boost for CVC Asia Pacific, which lost three senior executives last year. Percy King, managing director responsible for the group’s Greater China investments, Chris Heine, deputy managing director responsible for Southeast Asia, and David Seto, a managing director, all left the buyout arm during a period of three months last year.
CVC has completed 26 investments in Asia with an enterprise value of over $16.2 billion.