Evercore appoints Asia senior advisor

Southeast Asian banking veteran Stephen CuUnjieng will advise New York-based Evercore, which is raising a $500m private equity fund with China’s CITIC Securities.

US boutique investment bank Evercore Partners has hired Asian banking veteran Stephen CuUnjieng as a senior advisor.

CuUnjieng was previously a vice chairman for ASEAN at Macquarie Group. He has also worked for Merrill Lynch Asia Pacific, Salomon Brothers Hong Kong and Morgan Grenfell Asia's Philippines division. 

His investment banking experience and relationships throughout Southeast Asia bolsters Evercore’s goal of building its presence in the region, Ralph Schlosstein, president and chief executive officer of the bank, said in a statement.

In his new role, CuUnjieng will advise companies located in the Association of Southeast Asian Nations (ASEAN) member countries, which include Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore Thailand and Vietnam. 

His appointment adds to CITIC Securities International Partners, the bank’s joint venture with Chinese brokerage CITIC Securities International, according to the statement. 

Established in March, CITIC Securities International Partners is forming a $500 million private equity fund, which will provide capital to Chinese companies. The US dollar-denominated fund will target sectors such as resources, food, agriculture and healthcare. The joint venture will also focus on cross-border M&A advisory and investment management.

The hir eof CuUnjieng also complements Evercore’s strategic alliance with Mizuho Securities, the brokerage arm of Japan’s Mizuho Financial Group, the statement noted. Evercore and Mizuho provide joint advisory services for US-Japan cross-border M&A acquisition and restructuring deals.

Evercore was unavailable for comment at press time.