Chicago-headquartered JLL has expanded its capital markets business in Asia with the hire of a former Bank of China executive.

JLL appoints Robert Lay as senior director, debt advisory, capital markets, Asia Pacific, according to a statement. Based in Hong Kong, he reports to Theo Novak, executive director, capital markets transactions, APAC and will work closely with Paul Brindley, head of debt advisory, APAC.

In the newly-created role, Lay will be responsible for sourcing real estate debt advisory opportunities through his external network across Greater China and also assume responsibility for utilizing JLL’s existing network of clients in the region to further build out this business segment.

Lay has more than 17 years of financial experience, across retail, SME, corporate and institutional banking. He joins from Bank of China (New Zealand) where he was most recently head of corporate development and acting head of corporate banking. Previously, he worked at ASB Bank and MUFG Bank, also in New Zealand.