April 20 (Reuters) - Ali Abbas Alam, co-head of Credit Suisse’s emerging markets financing group for Asia Pacific, is leaving the bank after 16 years, according to sources and an internal memo.
Alam resigned from the Swiss lender on Monday to pursue other interests and is on gardening leave until mid-July, the sources said.
At Credit Suisse he played a key role in high-profile debt financings across Asia and was responsible for the origination and structuring of major loans for borrowers in Indonesia, China and India, among others.
Credit Suisse is overhauling its Asian financing operations, bringing together corporate and private banking teams under Carsten Stoehr, who rejoined in January as head of financing for Asia Pacific.
Riddhi Shah, who was co-head of emerging market financing with Alam, remains at the bank and reports to Stoehr.
Currently based in Singapore, Alam is expected to resurface in the industry but is understood not to be joining a direct competitor.
He rose rapidly through the ranks at Credit Suisse after joining as an associate in Hong Kong in July 2000 and was promoted to managing director within 7-1/2 years. He was also a member of Credit Suisse’s APAC fixed income management committee.
Alam was instrumental in Credit Suisse’s rise in the loan markets in Asia having been involved in high-profile financings including Chinese e-commerce giant Alibaba Group’s debut US$3bn loan in 2012 as well as a bridge loan of up to US$10.5bn backing Overseas Union Enterprises’ bid for Singapore-listed Fraser & Neave. He also worked on structured debt financings for Indonesian conglomerates Bakrie Group and CT Corp as well as Indian companies such as Alok Industries, among others.
Alam was also heavily involved in loan market forays for his native country, the Islamic Republic of Pakistan, and the Government of Mongolia, both of which have recently raised funds.
He started his banking career with Citibank in Pakistan in 1997 before taking up the job with Credit Suisse in Hong Kong. (Reporting By Prakash Chakravarti; editing by Steve Garton)
Our Standards: The Thomson Reuters Trust Principles.