Senior loan bankers depart Mizuho, SMBC after Asia volumes slump
SEVERAL senior loan bankers at Mizuho Financial Group and Sumitomo Mitsui Banking Corp. have left their roles in Asia, amid a slump in lending across the region that’s already prompted departures at other firms in recent months.
Kong Chiu Tham, head of Asia syndicated finance for South and South-east Asia at Mizuho, and Fiona Tan, an executive director in the same unit, have departed, according to people familiar with the matter.
At SMBC, Aaron Chow, managing director of loan capital markets for Asia Pacific, has resigned and is serving his gardening leave, other people familiar with the matter said.
Asia’s offshore loan market has been weighed down by elevated dollar interest rates, geopolitical risks and heightened competition among global lenders as deal flow dwindles.
The volume of facilities in US dollars, euros and yen, excluding bilateral deals, fell 12 per cent in 2025 to a two-year low of US$166 billion for the region outside Japan, according to data compiled by Bloomberg.
Other foreign lenders in the region have also seen departures from their loan financing teams.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
In July, Christina Chan, regional head of loan sales and head of corporate loan syndicate for Asia Pacific at BNP Paribas SA, left the bank. HSBC Holdings Plc’s co-head of leveraged and acquisition finance for Asia Pacific, Rachel Watson, stepped down last year.
Hong Kong-based Chow joined SMBC in 2019, Bloomberg News reported at that time. He previously worked at banks including UBS Group AG, HSBC and the Industrial & Commercial Bank of China (Asia).
Singapore-based Tham has been at Mizuho for more than 12 years, and has held various positions at other institutions, including Deutsche Bank AG, Australia & New Zealand Banking Group Ltd. and Oversea-Chinese Banking Corp., according to his LinkedIn profile.
Chow, Tham, representatives for Mizuho in Japan and SMBC in Singapore declined to comment, while Tan didn’t immediately respond to a request for comment.
Mizuho’s top executives have announced plans to expand the bank’s corporate and institutional banking business in Europe and Asia.
Chief executive officer Masahiro Kihara said last month the bank will pursue growth by securing business related to merger and acquisition advisory, while providing financing and risk hedging products.
SMBC, meanwhile, has been shifting toward structured deals that command higher fees as loan demand softens.
The bank saw several senior members of its Asia loans team exit last year and has been hiring former Credit Suisse bankers as it expands into private credit and structured debt. BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
