Morgan Joseph opened an office in Beijing, the New York-based investment bank announced Thursday. The bank also added a managing director to lead the office.
Morgan Joseph announced that it hired PricewaterhouseCoopers veteran Richard Xiao as a managing director and chief representative to run the Beijing office. Xiao will report to Dennis Galgano, head of international investment banking. The bank will hire support staff for the China office.
The investment bank has been active in China for several years, and its ramping up of its China business was first reported by Investment Dealer’s Digest in May. The bank said it has closed more than $1.1 billion in 15 transactions for China-based companies over the last several years.
Like its U.S. business, Morgan Joseph’s focus in China is investment banking services such as M&A and financing to midmarket companies.
Morgan Joseph provides financial advisory and capital raising services, including M&A and restructuring advisory services, and equity and debt placements. It has more than 60 investment bankers on its staff.