Managing Director

Head of China GIB

Houston is the Head of China GIB in J.P.Morgan. He joined J.P.Morgan in 2015. Prior to joining the firm, Houston spent 5 years in Goldman Sachs, where he was Head of China Diversified Industrial Group, responsible for coverage of key franchise clients within Investment Banking Services in China. And he spent 11 years at China International Capital Corporation Limited (CICC), where he was Head of European Investment Banking, Head of the Business Development Committee and Human Resources Committee on Investment Banking, and a member of the Investment Banking Operation Committee. With over 20 years of investment banking experience, Houston has led the execution and coverage of a large number of well-known privatization, fundraising and M&A projects in the Chinese oil and gas, banking, auto/machinery and healthcare industries. Additionally, Houston was a leading advisor to the State Council and other authorities for the Chinese Healthcare Reform Program. With extensive experience in innovating investment banking management and project execution, Houston has also taken the leadership role in the first systematic organizational restructure reform in the 200-year history of investment bank, proposing and promoting a brand new investment banking service model. He is a qualified corporate finance representative registered with the Financial Services Authority (FSA) in the United Kingdom and the Securities and Futures Commission (SFC) in Hong Kong. Houston is also registered with the Chinese Securities Regulatory Committee (CSRC) in China.

Selected transactions:

China Southern Power Grid’s acquisition of Encevo (2018)

China Tower’s $6.9 bn (pre-shoe) Hong Kong IPO (2018)

Xiaomi’s $4.7 bn (pre-shoe) Hong Kong IPO (2018)

Uxin’s $225 mm NASDAQ IPO (2018)

China Great Wall AMC‘s US$600mm senior notes offering (2018)

Zhongsheng Group's US$600mm CB and concurrent repurchase of itsexisting CB (2018)

State Grid’s US$1.75bn & €850mm Reg S/144A multi-tranche bond offering (2018)

Ping An Healthcare and Technology’s US$1,118mm (pre-shoe) Hong Kong IPO (2018)

CNOOC’s US$1.45bn SEC registered dual-tranche senior bond offering HNA Tourism's US$1.14bn sale of secondary shares in Hilton Grand Vacations Inc. (2018)

HAVI’s sale of majority stake in Logistics business in Mainland China, HK and Macau to SF Holding (2018)

HNA Tourism's US$1.38bn sale of secondary shares in Park Hotels & Resorts (2018)

China Minmetals Corporation’s US$400mm Senior Perpetual Securities

offering (2018)

Shandong Ruyi Investment Holding’s acquisition of a majority stake in Bally (2018)

China Minmetals Corporation’s US$1bn Senior Perpetual Securities offering (2017)

Qingdao Haier’s HK$8.0bn (~US$1.025bn) Exchangeable Bond offering (2017)

Shandong Ruyi Investment Holding’s acquisition of INVISTA’s A&AT business (2017)

ZhongAn Online P&C Insurance US$1.5bn H-share IPO (2017)

Weichai Power US$775mm Senior Perpetual Securities offering (2017)

China Great Wall Asset Management US$2bn triple-tranche senior notes offering (2017)

eHi Car Services US$400mm 5NC3 senior bond offering (2017)

Zhongyuan Bank’s US$1,037mm (pre-shoe) H-share IPO (2017)

CITIC Agri Fund Management’s US$1.1bn acquisition of Dow AgroSciences’ corn seed business in Brazil (2017)

China Three Gorges Corporation’s EUR650mm Green Bond Offering (2017)

China Southern Power Grid $1.5bn senior USD bond offering (2017)

State Grid $5bn Reg S/144A multi-tranche USD bond offering (2017)

Sinopec Group’s US$3.4bn bond offering (2017)

Yancoal Australia’s US$2.45bn acquisition of Coal & Allied Industries (2017)

China Huarong Asset Management’s US$1.5bn bond offering (2017)

CITIC Limited, CITIC Capital and Carlyle acquisition of McDonald’s Mainland China and Hong Kong businesses (2017)

China Agri-Industries’ 1.05 billion acquisition of COFCO Fortune Food Sales & Distribution (2017)

China Merchants Securities’ US$1.6bn IPO (2016)

Huatai Securities ‘ US$780mm acquisition of AssetMark (2016)

COFCO Meat’s US$250mm HK IPO (2016)

ZTO Express’s US$1.4bn NYSE IPO (2016)

China Resources Pharmaceutical Group’s US$1.8bn HK IPO (2016)

Shanghai Electric Power’s US$1.8bn acquisition of 66% of KElectric (2016)

HNA Tourism’s US$6.5bn acquisition of 25% of Hilton Worldwide Holdings (2016)

China Development Bank Financial Leasing’s US$799mm IPO (2016)

State Grid’s US$2.14bn senior notes offering (2016)

Yadea Group’s US$166mm HK IPO (2016)

HNA Tourism Group’s acquisition of Carlson Hotels (2016)

Shandong Ruyi Technology Group’s acquisition of SMCP (2016)

Sinopec Group’s US$3bn multi-tranche USD bond offering (2016)

China Huarong Asset Management’s $2.5bn high grade bond joint book runner (2016)

China Railway Signal’s US$1.5bn HK IPO (2015)

Fuyao Glass’ US$1.1bn HK IPO (2015)

CNR’s US$1.2bn HK IPO (2014)

Conch Venture’s US$533mm HK IPO (2013)

Weichai Power’s US$930mm acquisition of 25% stake in Koen (2013)

China CITIC Bank’s RMB25.8bn right issuance (2011)

Zoomlion’s US$1.9bn HK IPO and RMB5.6bn A share follow-on offering (2010)

Shanghai Pharmaceutical’s US$2bn HK IPO (2009)

COFCO Packaging Holding Limited (CPMC)’s US$160mm HK IPO (2009)

Sinopharm’s US$1.3bn HK IPO (2009)

Shanghai Pharmaceutical’s RMB16.8bn restructuring and acquisition (2008)

China CITIC Bank’s US$5.9bn A+H share IPO (2007)

BBVA’s RMB5.1bn acquisition of 9% of China CITIC Bank (2007)

Sinopec’s RMB30bn detachable convertible bond issuance (2006)

China Merchant Bank’s US$2.4bn HK IPO and RMB6.5bn convertible bond issuance (2006)

Dongfeng Group’s US$600mm HK IPO (2005)

China Merchant Bank’s RMB10.9bn A share IPO (2002)

China Unicom’s US$5.6bn HK IPO and RMB11.5bn A share IPO (2002)

Sinopec’s US$3.5bn IPO in Hong Kong, New York and London (2000)

COFCO’s US$5mm of assets injection and HK IPO (2000)

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