The cross-market group, which is the name of the new unit, is to focus on mid-market deals and is part of the investment bank's plans to add 1,000 more
investment banking clients.
Earlier, Cox was the co-head of retail
investment banking at Wells Fargo Securities, where he maintained primary coverage of companies in the apparel & footwear, sporting goods, department store, speciality store and discount store sectors.
Deteriorating performance of the global
investment banking industry despite huge cost-cutting measures is making the industry less profitable and more risky.
"We are very pleased to have received three awards from Global Banking and Finance Review, which reflect our leadership and achievements in the region's
investment banking field," said GIB chief executive officer Dr Yahya Alyahya.
In his new role, Bacchus will partner with Dominic Lester, joint head of European
Investment Banking and European head of Technology and Telecommunications
Investment Banking.
Demand for
investment banking services declined as liquidity dried up and deal making ground almost to a halt.
During the past three years Jones Lang LaSalle's Real Estate
Investment Banking (REIB) group has closed over $3.0 billion of transactions.
Commenting on the transaction, Jeffrey Werbalowsky, Co-Chief Executive Officer of Houlihan Lokey said, "We are excited to leverage the impressive international infrastructure of ORIX to expand our
investment banking, financial restructuring, and valuation product lines internationally, and particularly in Asia.
The bifurcation of
investment banking fees has been a common practice in business acquisitions and was ultimately accepted in final regulations issued under Sec.
Nils Ollquist, managing director of Orient Financial, a Hong Kong-based
investment banking firm, was in New York recently to line up a private placement for China Evergreen Environmental Corp., a small Chinese water treatment firm that Orient took public in the U.S.