Macquarie, Australia’s largest investment banking lender, has promoted one of its senior bankers to the position of Asia chief executive.

Macquarie, Australia’s largest investment bank, has promoted one of its senior bankers to the newly-created position of Asia chief executive, as part of its ongoing push outside its domestic market.

Alex Harvey joined Macquarie in 1999 from Bankers Trust and has over 15 years experience in the financial services industry having led equity, debt and advisory transactions in Australia, Asia, Europe and the United States.

He is currently executive director in Macquarie Capital and global head of the telecommunications, media, entertainment and technology group. Harvey was also based in Hong Kong with Macquarie from 2000 to 2003. 

He reports to Nicholas Moore, CEO of Macquarie Group. Harvey will be based in Macquarie’s Hong Kong office from later this month.

Previously the Asia division was jointly run by the heads of Macquarie's six operational groups. A year ago the Australian bank lured David Fass from Deutsche Bank to head up Europe, Middle East and Africa, and replace Benoit Savoret, who left the year before. 

Macquarie has had a presence in Asia for 17 years, establishing its first office in Hong Kong in 1995. But it recently retrenched its wealth business, when last November the bank sold its Asia private banking operations to Switzerland’s Julius Baer. However the bank says it has not exited the wealth space in Asia entirely and still has several joint ventures, including Religare Macquarie Private Wealth in India. 

Founded in 1969, Macquarie employs more than 15,000 people in over 28 countries. At 30 September 2011, Macquarie had assets under management of $A327 billion ($347 billion).