Credit Suisse readies aggressive PH foray

Credit Suisse has named a new head for its Philippine operations as it geared up for a more aggressive stance in its investment banking operations in the country.

In a statement, the investment banking giant said it had appointed Michael De Guzman as head of Philippines coverage for its Asia-Pacific Investment Banking and Capital Markets (IBCM) department.

“As an important addition to Credit Suisse’s leading Southeast Asia franchise, De Guzman will be responsible for driving the growth of its IBCM business in the Philippines,” the firm said.

“This includes broadening relationships with entrepreneurs and corporate clients in the market as well as delivering the full range of Credit Suisse’s integrated bank offering in line with its positioning as the trusted entrepreneurs’ bank,” it added.

De Guzman will report to Pankaj Goel and Rizal Gozali, Credit Suisse’s co-heads of IBCM in Southeast Asia. He replaced the co-heads of Credit Suisse’s investment banking unit, Johnny Escaler and Chiqui Huang.

According to the firm, De Guzman brings “extensive Asia-Pacific investment banking experience across mergers and acquisitions, leverage buyouts, principal investments, equity capital markets and general corporate finance, as well as a deep understanding of the Philippines market.”

He joined Credit Suisse from Macquarie Group, where he spent 17 years in various roles based around Asia-Pacific. For the past eight years, he had held the role of head of Macquarie Capital Philippines, advising and raising capital for various top Philippine conglomerates.

While at Macquarie, De Guzman advised on a number of notable transactions in the Philippines including SM Prime’s $8-billion real estate restructuring and $400-million equity raising, Emperador’s $700-million acquisition of Whyte & Mckay, the Ayala-Metro Pacific consortium’s LRT-1 transaction, as well as the $530-million initial public offering of SM Investments Corp.

“The Philippines is an important part of Credit Suisse’s Southeast Asia franchise, and where the bank has been a leading financial advisor since 1992,” the firm said. Credit Suisse has advised on numerous landmark and innovative transactions in the country, including the Republic of the Philippines accelerated switch tender offer and the $2-billion notes offering which marked the bank’s 17th bond offering or liability management deal led for the government since 2004, and a $1.2-billion rights issue for BDO Unibank.