Bankers Start Hong Kong-Based Venture to Better Support Corporates & Investors
Ion Pacific, a new investment bank, today announced the launch of its operations, following licensing approval by Hong Kong’s Securities and Futures Commission. Ion Pacific is headquartered in Hong Kong with offices in Europe and the U.S.
Acting as both a principal and intermediary, Ion Pacific will bridge capital and investment flows across borders both within Asia and between East and West. The firm will serve a diverse set of clients, partners and investors who are seeking a sophisticated approach to an increasingly complex global business environment.
The Ion Pacific team consists of investment banking veterans, including co-founders Itamar Har-Even and Michael Joseph, former Managing Directors and Co-Heads of Investment Banking at Reorient Group, a Hong Kong-based investment bank. The co-founders have extensive investment banking and principal investing experience and will use these skills to seek out quality investments globally.
Ion Pacific is backed by a broad range of distinguished global investors who bring deep experience from across sectors, including financial services, consumer retail, technology, defence and natural resources. Major investors include prominent family offices and top management from some of the largest global alternative asset managers and investment banks.
Co-founder Itamar Har-Even said Ion Pacific would work globally across its core businesses of investment banking, special purpose investment vehicles, and conventional and alternative asset management, often involving an Asian element to transactions, and draw on the firm’s deep network of partners.
“We identified a gap in the market where clients, particularly the large entrepreneur-led companies with Asian roots, want a more creative approach to solve complex problems than those being offered by the traditional investment banking model. We see a tremendous opportunity to grow the business by delivering clients customised and flexible solutions to meet the myriad challenges of globalised commerce,” Mr Har-Even said.
Co-founder Michael Joseph said team members had been involved in a series of high profile transactions in previous roles, including the origination of a deal in which the famous Hamleys toy store chain was acquired by a Chinese firm and the record-setting sale of London-based House of Fraser to China’s Cenbest in 2014.
“We have consistently demonstrated that we can bridge cultures and borders to put together quality deals that deliver strong outcomes for our clients. One area in which we have a natural edge is in crafting deals around highly branded or knowledge-intensive businesses such as high profile European heritage brands, large scale fintech operators and other similar enterprises,” Mr Joseph said.
Mr Har-Even said Ion Pacific’s culture was nothing like traditional investment banks.
“People have commented that we are more Silicon Valley than Wall Street. Our culture is truly born and bred of an entrepreneurial spirit where success comes to those who are tenacious and creative in finding the solutions that get right to the heart of a transaction. This is reflected in our choice of employees and extends right down to the edgy design of our office,” Mr Har-Even said.