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Australian Tycoon's Investment Vehicle Taps Deutsche Executive As CEO

Tom Burroughes

11 November 2014

The A$6 billion ($5.02 billion) private investment vehicle of Australian billionaire James Packer, Consolidated Press Holdings, has recruited a former senior chairman Mr Li Ka-Shing. And I’ve known James as a client and friend for years,” he said.

Most recently at Deutsche Bank, Ranking was its co-head of corporate banking and securities, located in London. He moves to Asia at the start of the role – a newly created one – in January next year.

He told the publication that the common theme across the portfolio of investments of the Packer entity was a connection to the growing of a middle class in countries such as China and India.

“Asian middle class growth drives a number of things,” he said. “It drives luxury brands globally. It drives iron ore sales out of Australia. It drives tourism into Australia. It drives capital flows out of China,” he said.

Sydney-headquartered CPH, via its subsidiaries, has interests in newspaper publishing, television, casinos, plastics, chemical manufacturing, ski resorts, fund management and debt collection, cosmetics, and meat processing areas (source: Bloomberg company data).