(Bloomberg) -- Ken Leung, co-head of Bank of America Corp.’s financial sponsors group in Asia Pacific, has left to join Hong Kong conglomerate CK Asset Holdings Ltd., according to people familiar with the matter.

Most Read from Bloomberg

Turkey Plans Istanbul Taxi Surge to Tackle Complaints Intergenerational Housing Could Help Older Adults Combat Loneliness As Rural Hospitals Shutter Maternity Wards, Urban Ones Follow A Loud Warning From the Past About Living With Cars Chicago Overcomes DNC Skeptics With Calm, Parties and Sun

Leung will help lead business development including mergers and acquisitions at the firm controlled by billionaire Li Ka-shing, the people said, asking not to be identified because the matter is private. Adnan Meraj has become sole head of BofA’s financial sponsors in APAC, the people said.

A representative for BofA declined to comment, while CK Asset didn’t respond to multiple requests seeking comment.

Li, Hong Kong’s wealthiest person, made his fortune investing in businesses spanning ports, retail, infrastructure and telecommunications through his flagship conglomerate CK Hutchison Holdings Ltd. His son Victor Li now runs the group.

CK Asset has businesses around the world, including property, infrastructure and utility assets, as well as Greene King pubs in the UK, which it acquired about five years ago.

CK Asset shares have dropped 19% in Hong Kong this year, giving the company a market value of $14.2 billion.

--With assistance from Shirley Zhao.

Most Read from Bloomberg Businessweek

How Rent Controls Are Deepening the Dutch Housing Crisis Hong Kong’s Old Airport Becomes Symbol of City’s Property Pain Far-Right ‘Terrorgram’ Chatrooms Are Fueling a Wave of Power Grid Attacks US Tech Is Holding Back Some AI Products From Europe Losing Your Job Used to Be Shameful. Now It’s a Whole Identity

©2024 Bloomberg L.P.