Australia-headquartered Macquarie Group has added two new senior hires to a division containing over 165 professionals in Asia, a move aimed at further strengthening its corporate finance business in China.
The new hires include the former head of China private equity and managing director at Bank of China’s investment subsidiary BOC International, Robert Xie. Xie was also the founding chairman of Bank of China’s private equity group.
Based in Hong Kong at Macquarie corporate finance division as a managing director and head of private equity in China, Xie will focus on Greater China business development and private equity investment. Prior to joining BOC International, Xie was chief investment officer of Hong Kong-listed media conglomerate TOM Group.
In addition to Xie, Macquarie has also brought in Barbara Zhang as managing director focusing on telecom and utilities sectors in China. Prior to joining Macquarie, Zhang was head of China division of the global investment banking team at Deutsche Bank.
Xie and Zhang will report to Andrew Low, Macquarie head of corporate finance in Asia who said in a statement: “These key hires allow Macquarie to extend its proven expertise in direct investment and in sectors such as telecoms and utilities into the mainland China market.”
Xie has bagged over 20 years of experience in direct investment in Greater China, while Zhang has been in financial services for over 10 years, Low said in the statement.
The latest hires marks Macquarie’s expansion in its Asia corporate finance division, and follows on from its appointment of Simon Murray as Asia chairman of corporate finance in December. Murray was formerly chief executive of Hutchinson Whampoa and Asia Pacific executive chairman of Deutsche Bank.