Investment bank Lehman Brothers has hired Julian Cheong as the new managing director and co-head of the financial institutions group for Asia-Pacific ex-Japan.

Mr Cheong will join David Kim as the co-head of the financial institutions group (FIG) to strengthen coverage of financial institutions clients and spearhead the firm’s continued growth in the region.

Mr Cheong joins Lehman Brothers after spending nine years in Goldman Sachs’s investment banking division, where he was most recently managing director, responsible for southeast Asia coverage and principal investments.

Glenn Schiffman, head of Lehman Brothers’s investment banking division for Asia-Pacific, said: Julian is a great addition to our practice and we feel very fortunate to have him aboard. He has extensive experience covering FIG clients across Asia as well as a deep knowledge of government institutions, following his many years of service in the public sector. I believe that he and David will make a terrific team to broaden our client coverage in the sector.