A former top banker at UBS has linked up with a Chinese electronics firm to launch a fixed income firm in Hong Kong.
Patrick Liu and co-founder Alec Tracy have agreed to a joint venture with TCL, a Chinese electronics manufacturer, to develop a fixed income boutique in Hong Kong, according to a report in Switzerland’s «Handelszeitung» (story in German language).
The new company, Admiralty Harbour Capital, has eleven members of staff and has new offices in the heart of Hong Kong. Liu aims to serve a Chinese clientele with his boutique investment bank. Admiralty Harbour Capital will offer tailor-made loans to Chinese clients.
Hiring Pipeline
The two founders expect to hire as many as 15 people by the end of the year and 25 until the end of 2019.
Liu was co-head of the Asian debt finance team at UBS before leaving in 2016. Before, he was in charge of the China debt capital markets team at Merrill Lynch.
