DC Advisory Partners announces major growth plans; appoints Paul Mullins Chief Executive, Europe
For more details, please contact:
Paul Lyon, Head of Communication & Marketing
Daiwa Capital Markets Europe Limited
5 King William Street, London, EC4N 7AX
+44 (0)20 7597 8109
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7 January 2011
DC Advisory Partners (DC Advisory), a leading pan European corporate finance house, today announces major growth plans, backed by its parent company Daiwa Capital Markets (Daiwa). The firm plans to strengthen its business across Europe, specialising in the provision of pan European M&A and debt advisory services, as well as providing clients with access to cross border European/Asian expertise that taps the combined resources of DC Advisory and Daiwa, an investment bank with an impressive and growing Asian presence.
DC Advisory today also announces the appointment of experienced investment banker Paul Mullins (see note 1), a former Bank of America, Citigroup and Schroders Managing Director, as Chief Executive, Europe. Backed with the full commitment and resources of the parent company, he is charged with making DC Advisory the number one mid cap focused investment bank for the region, combining regional expertise and global perspective. The corporate finance house, which consistently ranks in the top five European advisers in M&A mid-market league tables, already employs more than 200 bankers across France, Germany, Poland, Spain and the UK and Mullins will be strengthening the team further.
Working with Daiwa’s fast growing investment banking expertise across Asia, DC Advisory is uniquely equipped to serve European and Asian clients in their own regions and globally. DC Advisory also benefits from Daiwa’s strategic partnership with US investment bank Sagent Advisors, in which Daiwa Securities Group owns an equity stake of approximately 20%.
Daiwa has been building its global operations (see note 2), doubling its investment banking headcount in Asia, for example, adding Asian expertise in equities and purchasing the global convertible bonds and Asian equity derivatives units of Belgian bank KBC Group.
Akio Takahashi, Tokyo-based Global Head of Investment Banking at Daiwa Capital Markets, comments:
“We have set ambitious targets for DC Advisory – our European corporate finance business – and are confident that the firm, led by Paul Mullins, a hugely experienced professional, will accelerate its growth. Daiwa will provide the resources and commitment required for DC Advisory to become Europe’s number one mid cap focused investment bank and I very much look forward to working with Paul as he expands our team in the region.’’
Paul Mullins comments:
“DC Advisory is a highly effective and respected competitor providing clients with first-class local knowledge, contacts and experience across Europe. DC Advisory has a great team and will play a key role in Daiwa’s global expansion and I look forward to playing my part in its future success.”
In a career spanning 25 years Mullins has held a number of senior positions at investment banks including Bank of America, Citigroup, and Schroders. He set up Bank of America’s European M&A business in 2003 and went on to head the European Global Industries and Natural Resources group there. His transactions include the demerger of British Gas, creating BG and Centrica, the sale of Wessex Water to YTL and the Harrah’s Entertainment acquisition of London Clubs International. He serves as a Commissioner for the UK’s Commission on Ownership and sits on the UK’s Industrial Development Advisory Board.
About DC Advisory Partners and Daiwa Capital Markets:
DC Advisory Partners is a leading corporate finance house, offering independent advice on:
Mergers and acquisitions
Debt raisings
IPOs
Financial sponsors
Headquartered in London, it has a strong European and regional presence, employing more than 200 staff across offices in France (Paris and Lyon), Germany (Frankfurt), Poland (Warsaw), Spain (Madrid and Barcelona) and the UK (London and Manchester).
Daiwa Capital Markets purchased Close Brothers Corporate Finance in July 2009, rebranding the firm as DC Advisory Partners in May 2010.
Daiwa Capital Markets is the investment banking arm of Daiwa Securities Group, one of Japan’s largest brokerage firms with approximately 16,000 employees globally across more than 20 countries. Daiwa Capital Markets is an investment bank dedicated to growing its global presence, focusing its efforts on providing clients with access to the Asian financial markets across all product lines.
Contacts:
Paul Lyon, Head of Communication & Marketing, Daiwa Capital Markets
Tel: 020 7597 8109, Email: paul.lyon@uk.daiwacm.com
Notes to editors:
1: Paul Mullins is joining Daiwa Corporate Advisory Partners, the holding company of DC Advisory Partners, as Chief Executive, Europe, based in London. His appointment is subject to approval by the UK’s Financial Services Authority.
2: Daiwa Capital Markets has made a number of senior hires in its global investment banking business in the past six months. The firm also plans to double its headcount across Asia by March 2012. For more details visit http://www.hk.daiwacm.com/news/index.html.
Whilst continuing to grow its market leading Fixed Income and Debt Capital Market franchises Daiwa has also made significant investments in its Equity business, hiring Meurig Williams, a former Goldman Sachs Managing Director, as London-based Regional Head of Equity for Europe & the Middle East, for example, and Ester Li, a former Partner at Axial Capital Management, as Hong Kong-based Regional Head of Asian Equity Sales.
In other recent major appointments Mr Ashok Jha, former Finance Secretary of India, joined Daiwa as a Senior Advisor to Daiwa India and Mr Chang Lok Kim, former Governor of the Korea Development Bank, was appointed a Senior Advisor to Daiwa Capital Markets.
In November 2010 Daiwa Capital Markets completed its acquisition of the global convertible bonds and Asian equity derivatives units of KBC for a total consideration of $1.2 billion, including trading positions. Approximately 150 professionals across New York, London and Hong Kong joined Daiwa as a result of the acquisition. Daiwa is a now top ranking firm in the Hong Kong warrant market and has significant presence in global convertible bonds.