Yahoo Finance Goldman Sachs boosts hiring of dealmakers in Singapore
By Elffie Chew and Joyce Koh
(Bloomberg) —Goldman Sachs Group Inc. is hiring senior investment bankers in Singapore, according to people with knowledge of the matter, as the U.S. lender looks to bolster its dealmaking capabilities in Southeast Asia.
The firm has hired Chua Hui Yin from JPMorgan Chase & Co. to cover corporate finance and execution, as well as Oversea-Chinese Banking Corp.’s Andrew Teo for Singapore investment banking, the people said, asking not to be identified as the information isn’t public. The bankers have resigned from their previous roles, the people said.
Chua, Teo and representatives for Goldman Sachs and JPMorgan declined to comment. An OCBC representative confirmed Teo’s resignation.
Goldman’s move to boost advisers in Singapore comes as dealmaking surges across the region. Southeast Asian companies have defied a global slump this year to raise US$2.7 billion in initial public offerings this year, up 17.5% from the same period in 2021, according to data compiled by Bloomberg. The field was led by Indonesia’s Goto Group which raised US$1.1 billion. Last year’s biggest IPO in Southeast Asia was also by an e-commerce firm, as PT Bukalapak.com raised US$1.5 billion in a Jakarta listing.
Srijith Nair joined Goldman last year as head of Southeast Asia financial institutions group from Barclays Plc, according to his LinkedIn profile. Andy Tai, who has been with Goldman for about 15 years, moved to Singapore from Hong Kong as head of Southeast Asia investment banking.
© 2022 Bloomberg L.P.
