Societe Generale has hired UBS’s Cheung to lead its equity capital markets division across the Asia-Pacific region, marking a strategic expansion in the bank’s investment banking footprint. The move underscores growing competition in cross-border capital raising and advisory services in the region.
- Cheung, formerly of UBS, will lead Societe Generale’s APAC equity capital markets division starting April 1, 2026
- The hire is part of a strategic effort to boost equity origination volume by 20% within three years
- Cheung has led multiple IPOs and capital raises in Southeast Asia during his tenure at UBS
- Societe Generale’s SG.PA stock rose to €58.30 in early March 2026 following the announcement
- The move signals intensified competition in APAC equity capital markets among European and regional banks
- Focus areas include digital infrastructure and green financing projects across Singapore, Hong Kong, and India
Societe Generale has appointed Cheung, a senior executive from UBS, to spearhead its equity capital markets operations in the Asia-Pacific region, effective April 1, 2026. The appointment reflects the French bank’s push to strengthen its presence in high-growth markets where equity issuance and private placement activity remain robust. Cheung brings over 15 years of experience in structuring and executing large-scale capital raises across equities and convertible instruments for both institutional and corporate clients in the region. The hiring comes as part of a broader restructuring initiative by Societe Generale’s leadership to enhance its investment banking capabilities. While the bank has not disclosed specific revenue targets for the APAC division, internal benchmarks suggest a 20% increase in equity capital markets origination volume is expected within three years of Cheung’s arrival. This growth target aligns with the bank’s goal to elevate its ranking among European financial institutions in cross-border capital markets activity. Market analysts note that Cheung’s track record at UBS—where he led successful IPOs and follow-on offerings for technology and infrastructure firms in Southeast Asia—positions him well to drive client acquisition and deal execution. The move may also prompt increased competition with other European and regional banks vying for market share in the APAC equity space, particularly in markets like Singapore, Hong Kong, and India. Societe Generale’s share price, currently trading at €58.30 (SG.PA), has shown modest gains in early March 2026, reflecting investor confidence in its strategic personnel moves. The appointment is expected to have a positive near-term impact on client engagement and deal flow, particularly in green financing and digital infrastructure projects.