Credit Suisse Group AG appointed Vikram Malhotra as the sole head of investment banking in the Asia-Pacific region, according to an internal memo.
Malhotra will continue to be a member of the investment bank management committee and will report to Jim Amine, global head of investment banking, and Helman Sitohang, head of the investment bank in Asia Pacific, the memo said. Josephine Lee, a Hong Kong spokeswoman at the bank, confirmed the content of the memo.
Malhotra and Sitohang were named co-heads of the investment banking for the region in March 2009. Sitohang was made head of the investment bank, a newly created role, in the Asia-Pacific region, the company said yesterday. The Singapore-based executive will continue with his current responsibilities as the chief executive officer for Southeast Asia and co-head of the emerging-markets council.
Credit Suisse is ranked eighth advising share sales in the region this year, down from seventh, data compiled by Bloomberg shows. In mergers and acquisitions, the bank’s ranking improved to seventh from ninth the same period last year. Its biggest transactions this year included advising Alibaba Group Holding Ltd’s $7.6 billion share repurchase from Yahoo! Inc. and the $10.7 billion bid for Fraser & Neave Ltd. from a group led by Overseas Union Enterprise Ltd.