US investment bank Goldman Sachs has named Iain Drayton as co-head of its investment banking division across Asia excluding Japan.
Drayton will work alongside Todd Leland in the role and liaise closely with Goldman’s global investment banking heads Dan Dees and Gregg Lemkau, as well as regional country, industry and product heads, according to a memo viewed by the Post on Wednesday.
Drayton currently wears several hats at Goldman. He is the co-chief operating officer at the firm’s Asian investment bank, head of its financial and strategic investors group in Asia-Pacific as well as leading its investment banking services team in the region.
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Drayton joined Goldman as a managing director in 2006 in Tokyo. He relocated to Hong Kong in 2010 and was named partner in 2014.
Goldman’s entire Asian franchise generated revenues of US$3 billion in the six months ended June, up from US$2.2 billion in the same period a year earlier. Meanwhile, in the second quarter its global investment banking business generated record quarterly net revenues of US$2.66 billion, including record quarterly net revenues in both equity and debt underwriting.
In Asia, it has advised on bumper offerings such as Chinese electric carmaker Li Auto’s US$1.1 billion initial public offering on Nasdaq. It has also secured a joint global coordinator role on likely the largest public markets debut ever, by China’s Ant Group, according to a person familiar with the matter.
Morgan Stanley currently leads the ranking so far this year for Hong Kong-listed equity capital market underwriting based on preliminary data, capturing 16.6 per cent market share with US$9.9 billion in related proceeds. Goldman Sachs and China International Capital Co rounded out the top three with 9.4 per cent and 8 per cent market share, respectively.
Before joining Goldman, Drayton worked in London and Tokyo in the investment banking divisions of SBC Warburg from 1995 to 2000 and Nikko Citigroup from 2000 to 2006.
Drayton earned a diploma in Mandarin and economics from the University of International Business and Economics in Beijing in 1991 and a master of arts degree in Japanese studies from Trinity Hall, Cambridge University, in 1995.
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This article Goldman Sachs names Iain Drayton co-head of investment banking in Asia first appeared on South China Morning Post