Singapore’s Transport Capital continues its recent expansion drive with a new office in New York targeting North American shipowners.
The US office will be headed up by latest recruit — industry veteran Meeyoung Choi — who will also be responsible for markets in South Korea.
Prior to joining Transport Capital, Choi spent the last 12 years as chief executive of South Korea’s Meriel Partners, an investment banking boutique firm specialising in the transportation and infrastructure sectors.
Before Meriel Partners, Choi also worked for Jefferies & Co and AMA Capital Partners in New York as head of Asia.
Transport Capital said Choi brought with her “over 26 years of experience” in the global shipping, aviation and infrastructure industries.
“She is an expert in varied financial products and structures including capital raising, loan underwriting, private equity, securitization, corporate and financial restructuring and mergers and acquisitions,” the company said.
“Over the course of her career, she has completed over $7bn of debt and equity transactions.”
Choi’s vast transactional experience and deep links to Korean institutional investors will be of great value to our clients
Transport Capital
Transport Capital managing partner Philip Clausius said: “I have known Choi for about 20 years and I am very pleased that she has chosen to join us to help expand our North American and Korean activities.”
With the New York office, Transport Capital said it has also now added North America to its role as exclusive lending agent for shipping for Deka Bank, in addition to Asia Pacific and Greece.
Under an agency agreement with the Frankfurt-based bank, Transport Capital’s role is to originate and assist in structuring senior secured lending opportunities on a bilateral basis and in the banking club deal market.
“Choi’s vast transactional experience and deep links to Korean institutional investors will be of great value to our clients,” Transport Capital said.
“Growing Deka’s reach to North American shipowners will also be of significant benefit in the current ship finance landscape.”
Choi said the transportation finance industry has become “so dynamic” with substantial shifts of capital sources and participants over the globe.
“In these circumstances, holistic coverage and service capacity spiced with in-depth local expertise will be ever more required in order to provide optimal solutions to the various needs of our clients,” she said.
Choi’s is the third senior ship finance executive to join Transport Capital since July, which has seen additions in Beijing and Germany.
The company expanded in China in July with the recruitment of the former head of shipping finance at Minsheng Financial Leasing, Serena Wang.
Wang was said to have completed more than 20 international shipping finance projects during her time at the Chinese leasing giant, with a total financing value of more than $2.5bn.
Then in early October, Transport Capital announced the recruitment of top former HSH Nordbank banker Piyush Sharma who joined as senior director Europe.
He is based out of the Hamburg office working alongside Transport Capital partner and co-head for Europe Oliver Faak.
He joined from Hammonia Reederei, where he spent four years most recently as senior vice president for equity and projects. Prior to that he spent eight years at HSH Nordbank.
