JPMorgan's Singapore investment bank head to join Temasek unit

Fullerton Financial Holdings, an arm of Singapore investment company Temasek Holdings, has hired Yeo Hong Ping for a senior management role.

Mr Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter.

Mr Yeo will start in his position this year, Fullerton said in an e-mailed response to Bloomberg's queries. 

He will be chief investment officer at the firm and plans to start work in October, the person said, asking not to be identified because the information is not public.

Mr Rohit Chatterji, head of banking for Southeast Asia at JPMorgan, will assume Mr Yeo's responsibilities at the US lender, another person said.

Investment firms have been poaching South-east Asia dealmakers from banks as acquisition activity in the region slows. Takeovers involving South-east Asian companies have fallen to US$35.2 billion (S$47 billion) this year, down from US$50.7 billion during the same period last year, according to data compiled by Bloomberg.

Mr Alvin Lim left HSBC Holdings, where he was head of Southeast Asia banking advisory, to join CVC Capital Partners last month. Affinity Equity Partners hired Mr Ronnie Behar from Credit Suisse Group, where he was co-head of mergers and acquisitions in Southeast Asia.

Fullerton, led by chief executive officer Gan Chee Yen, invests in financial institutions in emerging markets, including Bank Danamon Indonesia, Cambodia Post Bank and Malaysia's Alliance Financial Group, according to its website. The firm posted profit of S$1.1 billion for 2014, the website shows.

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A version of this article appeared in the print edition of The Straits Times on July 15, 2016, with the headline 'JPMorgan's Singapore investment bank head to join Temasek unit'. Print Edition | Subscribe