Deutsche Bank Set to Resume Ability to Sponsor HK IPOs

​Fazzaco learned that Deutsche Bank, the largest bank in Germany launched in 1870, has secured two senior appointments, which would enable it to regain the ability to sponsor IPOs in Hong Kong.

Reportedly, the new appointments include Albert Chang as Head of Corporate Advisory Group for Asia Pacific and Derek Chung as Head of Financial Institutions Group for Asia, who will be able to act as IPO principals, subject to regulatory approval. 

In the light of related rules, banks and brokerage firms that act as sponsors must have at least two experienced individuals acting as IPO principals approved by Hong Kong’s Securities and Futures Commission.

In June, two authorised individuals have parted ways with the bank, who, therefore, lost the ability to sponsor HK IPOs form July. Even though it could still act as an IPO underwriter.

Last month, Fazzaco reported that Deutsche Bank has announced its plan to lay off 250 roles​ in Dublin operations to cut costs, as 440 roles are made redundant by the major lender.