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Bloomberg
HSBC Holdings’ South-east Asia advisory head Andrew Lim is leaving the UK 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 South-east 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. South-east Asian companies have been involved in US$73 billion (S$99.5 billion) of mergers and acquisitions this year, down 22 per cent from the same period last year, data compiled by Bloomberg show.
While at HSBC, Lim worked on CMA CGM’s US$2.4 billion takeover offer for Singapore’s Neptune Orient Lines last year, according to his LinkedIn profile. He also helped advise on the sale of APL Logistics to Kintetsu World Express.
A Singapore-based spokesman for HSBC declined to comment.