John Lydon, Deutsche Bank's top corporate financier in Asia, who advised on Alibaba's $25 billion flotation, has been hired by the stockbroker and wealth manager Davy to become a director of its corporate finance division.
The Irish man is expected to take a leading role in a push by Davy to grab a slice of major deals and flotations by large corporates in London as well as in Ireland.
The Alibaba deal was the largest flotation in history, and was cited by Davy as it revealed Mr Lydon’s appointment. Davy said he had “driven Deutsche to be the number one IPO house in Asia in three years”.
“He will support existing [Davy] clients as well as developing new business opportunities,” the company said.
Smurfit Kappa flotation Mr Lydon's other deals include the flotation of Smurfit Kappa, and deals involving the Agricultural Bank of China, which floated in a $22 billion deal, and Hutchison Ports, which floated in a $5.5 billion deal in 2011.
The appointment is part of a major shake-up of senior positions at Davy, which has emerged from the financial crisis as the State's largest financial advisory firm. Its chief executive, Tony Garry, steps down in March and will be replaced by Brian McKiernan, while Andrew Fisher and Henry Algeowill join the advisory board of its wealth management business.
