Bloomberg News

BNP Paribas Hires New Asia Leveraged Finance Head

November 25, 2011

Nov. 24 (Bloomberg) -- BNP Paribas SA has hired Michael Cheung to head its acquisition and leveraged finance team for Asia outside of Japan and Australia, according to Christine Chan, a Hong Kong-based spokeswoman for the bank.

Cheung joins from ING Groep NV, where he was a director of structured acquisition finance. He declined to comment when contacted by telephone at his office today.

Hong Kong-based Cheung will report to Didier LeBlanc, BNP’s head of acquisition and leveraged finance for Asia-Pacific, said Chan.

In other people moves, Lachlan Tracey, BNP’s head of acquisition and leveraged finance for Australia, has left, Sydney-based spokeswoman Anita Poppi confirmed earlier today. Kevin Shen, an assistant vice-president on the team reporting to Tracey, also left, Poppi said.

Oscar Tang, a vice-president of loan syndication for BNP in Hong Kong, is also no longer working for the bank, according to Chan.

BNP, France’s biggest lender, said earlier this month it will cut about 1,400 jobs at its corporate- and investment- banking unit.

--With assistance from Sarah McDonald in Sydney. Editors: Katrina Nicholas, Pavel Alpeyev

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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