Former BofA banker joins China-focused fund as CEO

Bloomberg

CDH Investments, an alternative investment fund manager focused on China, has hired top Asian dealmaker Alex To as its new chief executive officer, according to people familiar with the matter.
To, until recently the co-head of Bank of America Corp’s (BofA) Asia Pacific investment banking, will also become a partner of the fund, one of the people said. He’s set to start his new role in the coming months.
CDH Investments started in 2002 as a private equity platform and later expanded into other areas such as venture and growth capital, real assets, private credit, equities and private wealth management, according to its website. It had more than $26.6 billion of assets under management as of September last year, with offices in Hong Kong, Shenzhen, Shanghai, Beijing and Singapore. The fund has invested in more than 300 companies in China and more than 90 of them have listed domestically and abroad.
To, who is based in Hong Kong, recently resigned from the American lender to pursue other opportunities, Bloomberg News reported.
He was co-head of investment banking along with Peter Guenthardt, who will lead the business after To’s departure, a person familiar with the matter has said.
Bank of America hired To in 2014 from Morgan Stanley, and he was named co-head of APAC investment banking the following year. To was Morgan Stanley’s chairman of China investment banking at the time. He had joined in 2006 and focused on clients in the consumer and retail industries in China.