Bank of America-Merrill Lynch has hired Tan Chong Lee, who was last at Goldman Sachs, as its head of Southeast Asia investment banking, two sources familiar with the matter said on Tuesday.
The appointment of Lee, who was co-head of investment banking for Southeast Asia at Goldman Sachs and had previously worked with BNP Paribas, comes after Merrill lost some key bankers in the region in recent months.
Goldman Sachs and Merrill declined to comment on the move.
Merrill is trying to rebuild its team to tap into deals in the region -- home to two big sovereign wealth funds Temasek and the Government of Singapore Investment Corp (GIC).
Asia is also seeing a revival in capital raising, initial public offerings, and mergers and acquisition, which is reviving demand for investment bankers.
In July Merrill lost Keith Magnus, a star dealmaker who oversaw Singapore and Malaysia, to UBS.
Magnus's departure came a few weeks after Merrill Lynch's head of Southeast Asia corporate and investment banking, Roger Suyama, left the bank for personal reasons, sources familiar with the matter said. (Reporting by Saeed Azhar; Editing by Greg Mahlich)