Deutsche Bank AG hired Ajay Kapur to head its new Asian equity strategy team, which will include two of his former colleagues from Mirae Asset Securities.
Kapur, who has worked in financial markets for the past two decades and is based in Hong Kong, joins from Seoul-based Mirae, where he was chief global and Asia strategist, Deutsche Bank said in a statement sent to media organisations. He has previously worked for Citigroup Inc as chief global equity strategist in New York and as chief Asia equity strategist in Hong Kong.
“His appointment should help Deutsche attract new clients given Kapur’s experience,” said Michiya Tomita, a Hong Kong-based fund manager for Mitsubishi UFJ Asset Management Co, which oversees $64 billion. Tomita uses Deutsche Bank for some of his firm’s trades.
Kapur joins Frankfurt-based Deutsche Bank, which was ranked 11th among the top 13 equity research firms in the region this year, according to Institutional Investor. Germany’s largest lender said separately on Wednesday that it hired brokerage analyst Masao Muraki from Daiwa Securities Group Inc to expand its equity coverage in Japan.
Deutsche Bank has also hired Priscilla Luk as a director of Asian equity strategy and Ritesh Samadhiya as a vice-president of Asian equity strategy from Mirae. Both would report to Kapur, Wednesday’s statement said. Kapur left Citigroup in 2007 to return to Hong Kong where he set up a hedge fund called First Horse Capital, which was named for the Indian cavalry regiment his father served in. Before Citigroup, Kapur was Morgan Stanley’s head of equity strategy in Hong Kong.
At Citigroup, Kapur said on Janusry 16, 2007, that he remained “bullish” on global equities even after a four-year rally.
