HSBC has named Jeff Bennett, a managing director within the bank’s leveraged and acquisition finance unit, as head of the same division for Asia Pacific. This follows last week's departure of David Simons, confirmed an HSBC spokeswoman who declined to comment on the reason for his leaving.
Bennett will spearhead the bank’s Asian efforts to extend and expand its lending capabilities. These include corporate acquisition financings and refinancings, recapitalisations, restructurings, financial sponsor-led leveraged buyouts and bridge financing. He will report functionally to Kevin Adeson, global head of leveraged and acquisition finance, and locally to Frank Slevin, head of global banking in Asia Pacific.
Bennett relocated to Hong Kong when he joined HSBC in May 2007. Before that, he was based in Europe as a managing director in Morgan Stanley’s acquisition finance group.
The Asian banking sector has seen quite a few shake ups in the wake of the financial crisis. Most recently, Ronan Agnew resigned as head of Credit Suisse's financial sponsors coverage in the Asia Pacific region. He was replaced by team members Toby Groser and Ben Ngai as co-heads.