Deutsche Bank Regains Hong Kong IPO Sponsor Qualification

The Securities and Futures Commission has reinstated Deutsche Bank as a qualified sponsor for initial public offerings following three new hires.

Derek Chung, Ian Long and Albert Chang have been named as sponsors, according to the SFC.

The German lender's sponsor qualification lapsed in July after it was unable to replace required staff to arrange share sales.

Former responsible officers Poon Tsz Yuen and Rowena Wang left in June and July, respectively, with the former joining Bank of America.

Deutsche Bank will look to continue hiring with plans to add a dozen bankers for its advisory business in the region.

Part of the expansion includes the rehiring of Chung and Long as well as the addition of Chang from Orient Securities Co.