How can Global Investors tap into China's $11 trillion Bond Market?

Presented by CanChamHK's Financial Services Committees

About the Event

In recent years mainland Chinese companies have been using Hong Kong as a gateway to gain access to global investors: the number of US dollar-denominated bonds issued by these firms have sky rocketed in the past 3 years. Vice versa, multinational corporations also gain access to CNH by issuing Dim Sum bonds in Hong Kong.
 
With the Chinese Yuan officially added to the IMF’s special drawing rights (SDR) basket joining the Dollar, the Euro, the Yen, and the British Pound, how can global investors especially Canadian institutions including pensions funds tap into this $11 trillion bond market – via onshore bonds? NPL assets?
 
What is the role of Bond Connect and how does it work? How can Canadian institutions better leverage their presence in Hong Kong?
 

CanChamHK's Financial Services Committee is honoured to have a panel of Chinese fixed income market veterans to discuss with you the latest credit trends and opportunities in the region.

Speakers:


Mr Andrew Brown
Partner, Macro & Strategy
ShoreVest Capital Partners
 
Mr. Brown is a Partner of ShoreVest Capital Partners, a distressed debt and structured credit specialist in China, where he provides strategy on macro-economics, bank balance sheets, regulatory developments, financing and structuring in the distressed credit space. Having participated as a hedge fund investor and a top-ranked banks analyst throughout multiple distressed cycles globally, Andy brings 28 years of global banking and capital markets experience to ShoreVest; 21 years of which based in Asia.

He was formerly Managing Director of Asian Century Quest Capital, an Asian-focused hedge fund. Prior to that, Andy was Chief Investment Officer for Pan Asia at Cheyne Capital, a global multi-strategy (credit and equity) hedge fund. Andy started his career in the US banking industry in 1988 and moved to Hong Kong with Salomon Brothers in 1995 as Head of Asian Financial Institutions Research. He then served as Global Head of Emerging Markets Banks Research at Deutsche Bank during the Emerging Markets crisis 1997-2000 before moving to Morgan Stanley where he was both Head of Pan-Asian Financial Institutions Research as well as Global Head of Banks Research. Andy was consistently ranked #1 for Asian Financials Research and ranked #1 or #2 for Global Banks Research by various investor polls, before then moving to the hedge fund industry.



Mr Greg Donohugh
 
Greg is a significant figure in the Asian capital markets having been involved in many of the landmark Asian transactions in corporate finance, fixed income, principal investment, structured finance, and special/distressed investments since 1993. Prior to being CEO of Double Haven (2014-2018), Greg founded the Asia operations of Wells Fargo Securities in 2004 and built the capital markets and principal investment activities for the bank’s Asian operations.  He held the titles of Chairman & President of Wells Fargo Securities Asia & Japan respectively and was a member of the Asian management & risk committees.

From 1999-2004 Greg led the Asia ex-Japan Principal Investments Group & Structured Finance Group at Lehman Brothers investing billions in distressed debt and special situations in Korea, Thailand, Indonesia and China.   Prior to Lehman, Greg founded the Bear Stearns Investment Banking Group in Hong Kong in the China investment banking practice team.  Greg departed as a Head of the Hong Kong Fixed Income Division (1993-1999).

Dr Jason Ho
Managing Director & Head of DCM
CMB International

Dr. Jason Ho joined CMB International (CMBI) in August 2017 and is now the Head of Debt Financing and Managing Director. He is in charge of the origination, execution as well as the syndication of Chinese offshore bond issuance.

Dr. Ho has over 15 years of experience in investment banking. He is highly experienced in capital markets and bond syndication. Prior to joining CMBI, he was the Co-Head of Debt Capital Markets and Head of Debt Syndicate in ICBC International. He also worked previously in the Asia Corporate Finance and Equity Capital Markets (ECM) at Citigroup.

During his six years at ICBCI, Dr. Ho helped build the offshore debt platform and successfully led the department to become a market leader in bond underwritings. He has completed over 200 capital market transactions, and raised over US$100 billion for Chinese corporate in offshore market.
 

Mr Julien Martin
Managing Director, Head of FIC Product Development
HKEX

Mr Julien Martin joined HKEX in late August 2015 and serves as the Managing Director and Head of Fixed Income and Currency (FIC) Product Development of HKEX, and the General Manager of Bond Connect Company Limited, a joint venture established by China Foreign Exchange Trade System (CFETS) and HKEX.

Mr Martin is one of the architects that led to the launch of Bond Connect in July 2017, delivering policy breakthroughs and market efficiencies in pre-trade admission, trading and settlement for the China interbank bond market. In addition, He is leading key initiatives in the fixed income and currency business for both cash and derivatives space, steering a number of major initiatives across the organisation on the development of mutual market access, platform and product solutions.

Moderator:


Mr Jonathan Hu
Director & CEO
Pengyuan International

Jonathan Hu is the Director and Chief Executive Officer of Pengyuan International, a leading Credit Rating Agency from China.  The company is a leading provider of credit rating services and research and it’s also one of the very few credit rating agencies recognized by Hong Kong Securities & Futures Commission and Chinese regulators. Jonathan is responsible for company’s overall strategy management, business operations and oversight of company’s international commercial developments.

Prior to joining Pengyuan, Jonathan was the Global Head of Business development for Dagong Global Credit Rating, a Beijing based Credit rating agency with offices in Hong Kong, Frankfurt and Milan. He’s responsible for all of Dagong’s global business development and was the first to win USD issuance rating’s mandate. Prior to Dagong, Jonathan was the Head of Asia Pacific of a Niche class litigation advisory firm Goalgroup where he advised asset owners on global class actions litigations from 2013 to 2016. Jonathan was the Head of Sales and Operations for Fitch from 2011 to 2013 and also held various positions with Bloomberg LP from 2007 to 2011.

 

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