HSBC Holdings Plc’s Southeast Asia advisory head Andrew Lim is leaving the U.K. bank just a few months after taking charge of dealmaking in the region, according to a person with knowledge of the matter.
The Singapore-based managing director had taken over the Southeast Asia role after predecessor Alvin Lim left HSBC for CVC Capital Partners earlier this year, according to the person. He also led real estate and hotel dealmaking for the region, the person said, asking not to be identified because the information is private.
Lim, who worked at HSBC for 12 years, is departing as dealmaking in the region slows. Southeast Asian companies have been involved in $73 billion of mergers and acquisitions this year, down 22 percent from the same period last year, data compiled by Bloomberg show.
While at HSBC, Lim worked on CMA CGM SA’s $2.4 billion takeover offer for Singapore’s Neptune Orient Lines Ltd. last year, according to his LinkedIn profile. He also helped advise on the sale of APL Logistics Ltd. to Kintetsu World Express Inc.
A Singapore-based spokeswoman for HSBC declined to comment.