EMP Global, a US-based emerging markets investor, has hired Chung Min Pang and Samir Soota as managing directors.
Chung Min Pang will head up investments in the Greater China region, in which EMP invests through EMP Daiwa Capital Asia, a joint venture with Daiwa Securities Group formed in early 2007.
He was previously China country head for Bank of America and Salomon Brothers and most recently headed Aureus Capital, a US lower mid-market private equity firm, in China. According to EMP, Chung Min Pang also held positions in China’s Ministry of Agriculture, where he worked on reform of the Chinese economy, and the World Bank Group’s IFC arm.
Samir Soota will oversee the South and South East Asia markets from Singapore. He previously co-founded Principia Management Group and, before that, was president director for KPMG’s financial advisory services group in Indonesia.
EMP also announced that it has joined the BMB Group, a pan-Islamic global alternative assets manager formed in 2004 with offices in Brunei, London, New York, Kuala Lumpur and the Middle East. A substantial investment by BMB made the group its largest shareholder.
The enlarged group is expected to manage assets in excess of US$12bn. EMP partner Moeen Qureshi, former prime minister of Pakistan and CEO of the World Bank, becomes vice chairman of BMB Group, as part of the transaction. Don Roth, former head of Merrill Lynch Europe and treasurer of the World Bank, becomes head of principal investments.
EMP Europe became independent from EMP Global in 2005 and has since been renamed Mid Europa Partners, one of the most successful investors in Central and Eastern Europe.
Source: Thomson Merger News