Evercore, the US-based investment banking advisory firm, has opened a new office in Singapore and hired a former UBS executive to take the lead.

Keith Magnus, chairman and head of Singapore and Malaysia investment banking at UBS, has joined the firm as senior managing director to establish the new Singapore office and as chief executive for Evercore's on-the-ground business. In this role, he focuses on providing strategic, merger and acquisitions and capital markets advice to clients in Singapore and South East Asia.

Prior to UBS, Magnus worked for the likes of Deutsche Bank and Bank of America Merrill Lynch, where he figured in an aggregate value of at  least S$40 billion ($31.7 billion) in M&A and capital raisings for companies in various industries. 

Evercore's global advisory and private fund raising capabilities comprises some 500 bankers and the decision to set up shop in Singapore supports efforts to solidify its presence in Asia. Once established, the Singapore office will be allied with its operations in Hong Kong and linked with partners in China, Japan, India and Korea.