Airwallex hires Morgan Stanley’s Southeast Asia Investment Banking chief

Airwallex hires Morgan Stanley’s Southeast Asia Investment Banking chief

According to people with knowledge of the matter, Bloomberg Airwallex, a payment platform startup, has hired Morgan Stanley's head of Southeast Asia technology investment banking.

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The people who asked not to be identified as the information is private, will join the Tencent Holdings Ltd., an executive director who has been with the US firm for more than four years. One person said he will be based in Singapore.

Yek s departure comes amid Airwallex's rapid fundraising over the past year and its expansion in the region after securing permits in Singapore and Malaysia. According to its website, the firm is valued at $5.5 billion and counts DST Global and Mastercard Inc. among its backers. People with knowledge of the matter said that it is considering an initial public offering as soon as 2024.

Before joining Morgan Stanley, Yek was co-founder of Altitude Labs, an app design and development agency, according to his LinkedIn profile. He previously worked at Citigroup Inc.

According to people familiar with the matter, Yuen Dezhao, an executive director at Morgan Stanley focused on power, utilities and infrastructure deals in Asia, is joining a private equity firm. He was based in Hong Kong for more than 10 years, according to his LinkedIn profile.

Representatives for Morgan Stanley and Airwallex didn't respond to requests for comment, while Yek and Yuen didn't respond immediately to requests for comment.

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