Citigroup Asia financer joins CVC Capital as adviser

6 August 2007

Private equity company CVC Capital Partners has hired Francis Leung for its Asia Pacific unit.

Mr Leung will act in an advisory capacity for the firm's business in Greater China and will be charged with developing investment opportunities and providing advice over the management of the firm's existing acquisitions.

He will bring 30 years of experience as an investment banker to the role, having previously been Asia chairman of global markets at Citigroup in February 2006. Prior to his stint at Citigroup he was vice chairman at French bank BNP Paribas.

A statement from CVC said: "He has extensive relationships in Hong Kong and China and has assisted many Chinese companies in fund-raising activities."

Mr Leung's hire by a buyout company follows other investment bankers moving to private equity companies as buyouts hit record levels globally.

In February Dag Skattum left JP Morgan to join TPG Capital, while in January Hong Kong Financial secretary Antony Leug joined Blackstone Group.

CVC-managed funds currently own 44 companies, with revenues in excess of $53.5 billion.

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