The firm plans to strengthen its business across Europe, specialising in the provision of pan European M&A and debt advisory services, as well as providing clients with access to cross border European/Asian expertise that taps the combined resources of DC Advisory and Daiwa, an investment bank with an impressive and growing Asian presence.
DC Advisory today also announces the appointment of experienced investment banker Paul Mullins (see note 1), a former Bank of America, Citigroup and Schroders Managing Director, as Chief Executive, Europe. Backed with the full commitment and resources of the parent company, he is charged with making DC Advisory the number one mid cap focused investment bank for the region, combining regional expertise and global perspective. The corporate finance house, which consistently ranks in the top five European advisers in M&A mid-market league tables, already employs more than 200 bankers across France, Germany, Poland, Spain and the UK and Mullins will be strengthening the team further.
Working with Daiwa’s fast growing investment banking expertise across Asia, DC Advisory is uniquely equipped to serve European and Asian clients in their own regions and globally. DC Advisory also benefits from Daiwa’s strategic partnership with US investment bank Sagent Advisors, in which Daiwa Securities Group owns an equity stake of approximately 20%.
Daiwa has been building its global operations (see note 2), doubling its investment banking headcount in Asia, for example, adding Asian expertise in equities and purchasing the global convertible bonds and Asian equity derivatives units of Belgian bank KBC Group.
Akio Takahashi, Tokyo-based Global Head of Investment Banking at Daiwa Capital Markets, comments:
“We have set ambitious targets for DC Advisory – our European corporate finance business – and are confident that the firm, led by Paul Mullins, a hugely experienced professional, will accelerate its growth. Daiwa will provide the resources and commitment required for DC Advisory to become Europe’s number one mid cap focused investment bank and I very much look forward to working with Paul as he expands our team in the region.’’
Paul Mullins comments:
“DC Advisory is a highly effective and respected competitor providing clients with first-class local knowledge, contacts and experience across Europe. DC Advisory has a great team and will play a key role in Daiwa’s global expansion and I look forward to playing my part in its future success.”
In a career spanning 25 years Mullins has held a number of senior positions at investment banks including Bank of America, Citigroup, and Schroders. He set up Bank of America’s European M&A business in 2003 and went on to head the European Global Industries and Natural Resources group there. His transactions include the demerger of British Gas, creating BG and Centrica, the sale of Wessex Water to YTL and the Harrah’s Entertainment acquisition of London Clubs International. He serves as a Commissioner for the UK’s Commission on Ownership and sits on the UK’s Industrial Development Advisory Board.