Our Team
George Raffini, Managing Partner, joined Headland in 1989, the year the firm raised its initial Asian private equity fund. George is a member of Headland´s Investment Committees and has been responsible, with his other senior colleagues, for managing the business since 1998. Prior to joining Headland, George was with Bain & Company, the US-based management consulting firm. Before Bain, he received an MBA from Harvard Business School and, prior to this, was a member of Bank of America’s high technology lending group. George is also a magna cum laude graduate of the American University in Washington, D.C.
Marcus Thompson, Managing Partner, joined Headland in 1992 and has been a member of the firm’s Investment Committees since 1993. Marcus started his career in private equity in the UK in 1988 with Prudential Venture Managers, a leading UK private equity firm which is now known as Silverfleet Capital. Before entering the private equity industry he worked for The Swire Group in Hong Kong, Thailand and Indonesia where he held several general management roles within Cathay Pacific Airways. Marcus has firsthand experience of making private equity investments in several different countries and industry sectors. In addition, he also has operating experience from his time with The Swire Group. Marcus has an MA degree in Law from Cambridge University, England and is a member of the Bar of England and Wales. He is also a member of the Wharton Society of Fellows.
Paul Kang, Senior Partner, Head of Southeast Asia, and a member of Headland’s Private Equity Funds’ Investment Committees. Paul joined Headland in 1996 and currently oversees Headland’s Southeast Asia investment activities. Prior to joining Headland, Paul worked in London and Hong Kong for KPMG in their financial services audit division. He has also had experience managing control transactions at the PAMA Group, another mid-market private equity firm, as well as structured debt and acquisition financing while at GE Capital. Paul holds an LLB from the University of Manchester and is a member of the Institute of Chartered Accountants in England and Wales.
Taigon Kim, Senior Partner, South Korea, and a member of Headland’s Private Equity Funds’ Investment Committees. Taigon joined Headland in 2001. His previous experience includes working with H&Q Asia Pacific Korea, based in Seoul, where he was responsible for South Korean private equity investments, and at Nara Banking Corporation where he managed a US$300 million in-house fund. Taigon started his career with Dong-A Investment & Finance Corp in Seoul, managing the company’s conversion into a merchant bank. He holds a BA in Business Administration from Seoul National University.
Raymond Leung, Senior Partner, Venture Investments, and a member of Headland’s Venture Funds’ Investment Committees. Ray joined Headland in 1996. Prior to joining Headland, Ray worked for six years in London, first qualifying as a Chartered Accountant at Arthur Andersen and then at the venture capital arm of Friends Provident Life Office focusing on due diligence reviews and portfolio management of private companies in the UK. He graduated from Cambridge University in England with an economics degree and is a member of the Institute of Chartered Accountants in England and Wales.
Alasdair Nagle, Senior Partner, South Korea, joined Headland in 1994 and has been a member of Headland’s Private Equity Funds’ Investment Committees since 1996. Between 1985 and 1990, Alasdair worked for PricewaterhouseCoopers in London, as an auditor, and then in Budapest, specializing in privatizations. Between 1990 and 1994, Alasdair worked for CDC Capital Partners in London for one year and then in Kuala Lumpur for three years, making private equity investments in Asia and Africa. After joining Headland in 1994, Alasdair has been involved in making private equity investments in Indonesia, Singapore and Thailand. Since 2000, Alasdair has focused on making private equity investments in South Korea. Alasdair has an MA degree in business studies and French from Edinburgh University and is a member of the Institute of Chartered Accountants in England and Wales.
Douglas Ng, Senior Partner. Doug joined Headland in 2005, where he now heads up investor relations activities. Doug started his career in 1987 with Booz Allen Hamilton in New York and later moved to Asia where he was co-head of the Greater China practice and built the Hong Kong and Shanghai offices. At Booz Allen, he led a number of China market entry strategy assignments as well as large scale re-engineering projects for major corporations. In 1998, he moved over to the private equity industry, first with Fidelity Investments in Hong Kong making venture capital investments in the region and later with his own firm, Pharos Partners, where he worked with US private equity firms on Asian opportunities for their portfolio companies. He holds an MBA from Harvard Business School and Bachelor of Science and Master of Science degrees from the Massachusetts Institute of Technology.
William Shen, Senior Partner, Head of Greater China, and a member of Headland’s Private Equity Funds’ Investment Committees. Prior to joining Headland in 2004, William worked at Vertex China Investment, managing its PRC private equity investments; Shanghai Industrial Holdings Limited, managing the firm’s venture capital investments; Bain & Company in the US and Hong Kong. He holds a Bachelor of Science in Economics summa cum laude and Dean’s list from Wharton and an MBA from Stanford University with a concentration in strategy and venture capital investments. William is currently also the Vice Chairman of Yonghui Superstores Company Limited listed on Shanghai Stock Exchange (601933) and Non-Executive Director of Bosideng International Company Limited listed on The Stock Exchange of Hong Kong (3998).
James Stewart, Partner, Chief Operating Officer. Jim joined Headland in 2001, initially heading up the portfolio management team and more recently serving as the chief operating officer. Before coming to Hong Kong in 1992, Jim worked on various insolvency and corporate restructuring projects with the corporate advisory services group of KPMG in Vancouver. That year, Jim joined KPMG’s corporate financial services unit in Hong Kong where he headed up the liquidation of an Asian/US-based investment bank, among other projects. In 1995, he began his career in private equity when he joined William E Simon & Sons (Asia) Limited as its Chief Financial Officer. He holds a Bachelor of Commerce degree from the Sauder School of Business of the University of British Columbia, and is registered as a Chartered Accountant and a Chartered Insolvency Practitioner in Canada.
Sonny Chan, Partner. Sonny joined Headland in 2004 and is a member of the Greater China investment team. Sonny started his private equity career in 1999 with the PAMA Group, formerly known as Prudential Asset Management Asia, based in Hong Kong focusing on North Asia growth capital and buyout investments. Prior to working in private equity, Sonny was an investment banker with Salomon Smith Barney in both New York and Hong Kong, where he assisted US corporations in the consumer sectors as well as Asian conglomerates with debt and equity financings and mergers and acquisitions. He holds a Bachelor of Science degree in Electrical Engineering from the University of California Los Angeles and a Master of Science degree in Engineering-Economic Systems from Stanford University. Sonny is currently a Director on the Board of Zhong Zhi Yuan Automobile Group Co., Limited and a Board Supervisor of Yonghui Superstores Company Limited listed on Shanghai Stock Exchange (601933).
Alok Gupta, Partner. Alok joined Headland’s subsidiary, Headland Capital Partners (India) Private Limited in 2008 and is based at Mumbai as a member of the venture investment team. Alok commenced his career at ANZ Grindlays Bank as part of the Investment Banking team responsible for Indian structured finance and syndications. He also worked with ABN AMRO Securities at the Debt Capital Markets desk. In 2000, he joined Rabo India Finance (a part of the Rabobank Group) as a member of the life sciences and healthcare team and thereafter as part of the start-up team at YES Bank, commenced and developed the life sciences and technology practice. He has worked with a number of companies in these sectors on debt, equity capital raising and business and financial advisory services. Alok holds an engineering and economics degree from the Birla Institute of Technology and Science, Pilani and an MBA from the Indian Institute of Management, Calcutta.
Lance Hong, Partner. Lance joined Headland in 2004 and is a member of the South Korea investment team. Prior to joining Headland, Lance worked at Good Morning Shinhan Securities in derivatives sales, Good Morning Securities in corporate secretarial and investor relations, and Nara Banking Corporation in capital markets. He holds an MBA from Yonsei University and a BA from University of Illinois at Urbana Champaign. He is a CFA charterholder.
Junlee Hsu, Partner. Junlee joined Headland in 2001, where he is a member of the Greater China investment team. Junlee started his career in corporate management with Namchow Group in Taiwan focusing on marketing and finance for several years. He then migrated into financial services in Taiwan with ING Bank in corporate banking, with ING Barings in corporate finance and with Union Bank of California in credit analysis. Junlee also worked with the venture capital arm of a Taiwanese technology business group. He started to focus his career in private equity industry when he joined Headland in 2001. He holds an MBA degree from the University of Rochester.
Jessica Lau, Partner. Jessica joined Headland in 2005 and is a member of the Southeast Asia investment team. Prior to joining Headland, she worked for Citigroup in New York providing corporate finance and M&A advisory services in the media & telecom as well as paper and packaging sectors. Jessica started her career with TD Securities Inc in Toronto in investment banking. She holds a Bachelor of Commerce (Honors) degree in Finance from the University of British Columbia.
James Savage, Partner. James joined Headland in 2000 where he is now responsible for venture investments in India and Southeast Asia as a member of the venture investment team. James started his career with KPMG providing audit and business advisory services, primarily to clients in the telecom sector. He then joined Hongkong Telecom (now PCCW) working on broadband networks and e-commerce platforms and developing and launching a B2B portal. Prior to joining Headland, he worked at Arthur D Little, providing business advisory and consultancy services focusing on technology, media and telecom sectors. James has experience developing technology businesses as well as investing in private equity in Asia since 1994. He holds a BSc in Physics from Imperial College, London, and is a member of the Institute of Chartered Accountants in England and Wales.
Jimmy C K Wang, Partner. Jimmy joined Headland in 2005 and is a member of the venture investment team. Prior to joining Headland, he worked for Suez Asia Holdings for five years as their investment representative in Taiwan. Previously, he was a product manager at an electronics manufacturer in Taiwan, specializing in marketing and new product research. Mr Wang is a graduate of Tamkang University and the International Trade Institute in Taiwan.
Christina Tsang, Chief Financial Officer. Christina joined Headland in 1995 and was promoted to the position of Chief Financial Officer in 2011. Prior to joining Headland, Christina worked in KPMG and PricewaterhouseCoopers in Hong Kong specializing in the financial audits of companies in the manufacturing, hotel and banking industries. She holds a Bachelor of Arts degree in Accountancy from Hong Kong Polytechnic University and is a member of the Association of Chartered Certified Accountants.
Kin-Tun Pang, General Counsel. Kin-Tun joined Headland in 2008, where he now oversees legal and compliance matters. Kin-Tun started his career in 1999 with Allen & Gledhill in Singapore. He later moved to Hong Kong to join Freshfields Bruckhaus Deringer before joining Headland. In addition to his experience in the private equity industry, he has also advised on, and managed, mergers and acquisitions and corporate finance projects. He holds an LLB from the National University of Singapore and is qualified as a solicitor in Hong Kong and England and Wales and an advocate and solicitor in Singapore.
Fifi Hui, HR & Admin Manager. Fifi joined Headland in 2010. Prior to joining Headland, she worked for The Royal Bank of Scotland, Bayer Material Science Limited, Ernst & Young, SPCA and Cathay Pacific Airways Limited. Fifi holds a Master’s Degree in Human Resources Management from Macquarie University and a BSc in Hotel Management from the HK Polytechnic University.
Henri Goliono, Principal. Henri joined Headland in 2011 and is a member of the Southeast Asia investment team. Prior to joining Headland, he worked for McKinsey & Co. where he spent four and a half years with the Corporate Finance Practice. During his tenure at McKinsey, he worked on M&A, corporate restructuring and growth strategy projects across different industries. Henri started his career with Procter & Gamble in its European operating group in Brussels, Belgium. He holds an MBA from Kellogg School of Management and an engineering degree from Bandung Institute of Technology (Indonesia).
Jerry Gu, Principal. Jerry joined Headland in 2006 and is a member of the venture investment team. Prior to joining Headland, he worked at Jefferies & Company in investment banking, Intel in communications investments and Sybase in technical marketing and services for financial software. He holds an MBA from the University of Chicago, a Master of Science from Rutgers University and a Bachelor of Science from Shanghai Jiao Tong University.
Glory Gunawan, Principal. Glory joined Headland in 1998 as a member of the portfolio management team, managing investment portfolio companies mainly in Southeast Asia. She is now a member of the deal execution team. Prior to joining Headland, she was with KPMG in Hong Kong in auditing, specializing in the banking and financial institutions sector. Glory is a graduate of the University of Hull and is a member of the Association of Chartered Certified Accountants in the UK.
Amy Kwok, Principal. Amy joined Headland in 1999 and has been in the Greater China investment team since that time. Prior to joining Headland, Amy was Senior Consultant in the corporate finance advisory team with Arthur Andersen, advising corporate clients and private equity firms on deal opportunities, mergers and acquisitions and private placements in the Greater China region. Prior to that, Amy worked in the telecommunications sector in finance and business development functions, with AT&T Asia-Pacific in Hong Kong and Bell Canada in Toronto. She holds an MBA from York University in Canada and a Bachelor of Arts degree from The University of Hong Kong. She is a Chartered Financial Analyst and member of the Hong Kong Society of Financial Analysts.
Rebecca Lam, Principal, Finance. Rebecca joined Headland in 2011 and is a member of the finance team. Prior to joining Headland, Rebecca was the Asia Pacific financial controller of Card Protection Plan Limited, a FTSE-listed company providing life assistance products and services worldwide. In prior years, she also worked for General Electric and Hitachi China Limited with key roles in financial control and regional reporting. She also worked for PricewaterhouseCoopers in Hong Kong performing financial audits in the real estate, logistics and hotel industries. She holds a Bachelor of Business Administration in Accountancy from the Chinese University of Hong Kong and is a member of the Hong Kong Institute of Certified Public Accountants.
Jung Yup Lee, Principal. Jung Yup joined Headland in 2002 and is a member of the South Korea investment team. Jung Yup began his career in 2000 with H&Q Asia Pacific Korea in Seoul. At H&Q Asia Pacific, he was responsible for evaluating new investment opportunities and monitoring portfolio companies. Jung Yup holds a Bachelor of Science in Mechanical and Aerospace Engineering from Seoul National University.
Christine W C Li, Principal, Finance. Christine joined Headland in 1996 and is a member of the finance team where she now focuses on fund accounting and administration. Prior to joining Headland, Christine worked as a Senior Accountant for Deloitte Touche Tohmatsu in Hong Kong where she specialized in financial audits. Christine holds an MBA from The Hong Kong University of Science and Technology and a Bachelor of Business Administration in Accountancy from The Chinese University of Hong Kong. Christine is also a member of the Association of Chartered Certified Accountants in the UK.
Bernard Man, Principal. Bernard joined Headland in 2005 and is a member of the Greater China investment team. He started his career in finance in 1995 as an analyst in the UK corporate finance department of Schroders. Bernard joined JPMorgan in 1998 to focus on European M&A and then technology coverage, where he advised clients such as Prada, Frangi/Tie Rack and TTPCom on mergers and acquisitions, private equity placements and initial public offerings. He joined Anglo Chinese Corporate Finance in Hong Kong in 2004, where his experience included advising entrepreneurs on the sale of their companies to private equity and strategic buyers, and SABMiller on its unsolicited offer for Harbin Brewery. Bernard has a Bachelor of Economics degree from University College London.
Arun Uday, Principal. Arun joined Headland’s subsidiary, Headland Capital Partners (India) Private Limited, in 2007 and is a member of the venture investment team. Prior to joining Headland, he worked for Ernst & Young Corporate Finance in Mumbai as part of the technology and media practice, Patni Computer Systems in Mumbai as part of its M&A team and Cognizant Technology Solutions in Pune in the design and development of Internet-related applications. He holds an MBA from the Indian School of Business, a Master of Engineering from the Indian Institute of Science in Bangalore and a Bachelor of Science from Bangalore University.
Raymond Wong, Principal. Raymond joined Headland in 2002 and is a member of the Greater China investment team. Prior to joining Headland, Raymond worked for ABN AMRO principal investment in Hong Kong SAR responsible for PRC investments. Before that, he held various investment banking and corporate banking roles in the Greater China region working for ABN AMRO and Standard Chartered Bank. Prior to working in Hong Kong, Raymond was with IBM Research and Development Laboratory in software engineering in Toronto. Raymond holds an MBA from Columbia Business School and a Bachelor of Applied Science in Engineering from the University of Toronto.
Laetitia Yu, Principal. Laetitia joined Headland in 1992 and is a member of the deal execution team. Prior to joining Headland, Laetitia worked as an investment analyst with Baring Securities (HK) Limited researching Hong Kong listed companies. She holds a Bachelor of Arts and an MBA from the University of Toronto.
Brian Chang, Associate Director. Brian joined Headland in 2011 and is a member of the Southeast Asia investment team. Brian started his career in 2006 with Macquarie Capital Advisers where he worked on mergers and acquisitions transactions across a variety of industries, including consumer, food and beverages and selected industrial sectors. Prior to joining Headland, he co-founded Pioneer Concepts Pte. Ltd. which develops and markets its own brand of portable GPS navigation devices. Brian is a graduate of The University of Melbourne with a Bachelor of Commerce (First Class Honours).
Reo S H Huang, Associate Director. Reo is a member of the venture investment team. Prior to joining Headland in 2008, he co-founded a retail household-products company in Taiwan, where he was responsible for financial management and business development. Previously, he was chief financial officer at a software company operating in Greater China, in charge of corporate finance, operations and business development. Reo is a Bachelor of Business Administration graduate of National Taiwan University and holds an MBA from the University of Chicago
Karen T Lam, Associate Director, Finance. Karen joined Headland in 1997 and is a member of the finance team where she now focuses on fund accounting and administration. Prior to joining Headland, Karen was a supervisor with KPMG Hong Kong, where she specialized in audits of financial institutions. Karen is a member of the Association of Chartered Certified Accountants in the UK.
Maria Pa, Associate Director, Finance. Maria joined Headland in 1995 and is a member of the finance team where she now focuses on fund accounting and administration. Prior to joining Headland, she worked with KPMG Hong Kong as a supervisor where she specialized in audits of financial institutions. Maria holds a Bachelor of Arts degree in Accountancy from City University of Hong Kong and is a member of the Association of Chartered Certified Accountants in the UK.
Kamlesh Patre, Associate Director, Finance. Kamlesh joined Headland’s subsidiary, Headland Capital Partners (India) Private Limited, in 2009 and is a member of the finance team. Kamlesh began his career in 2005 with Piramyd Retail Limited, a retail company in Mumbai, where he was part of the finance and accounts team responsible for project accounting, budgeting and MIS. In 2008, he moved over to Future Capital Holdings Limited where he looked after taxation and accounts payable. Kamlesh holds a Bachelor of Commerce degree from the University of Mumbai and is a member of the Institute of Chartered Accountants of India.
Mike Ren, Associate Director. Mike joined Headland in 2012 and is a member of the Greater China investment team. Prior to joining Headland, Mike worked at SAIF Partners (Softbank Asia Investment Fund) in Shanghai, focusing on PRC investments for both US dollar and renminbi denominated funds. Prior to that, Mike was Vice President at ARC China in Shanghai, focusing on establishment and investment of government-backed regional funds. Mike began his investment career at Merrill Lynch Global Private Equity in New York, focusing on global buyout and growth capital investments, after attending the Merrill Lynch investment banking analyst training program. Mike holds a Bachelor of Arts degree in economics from Columbia University, a certificate in general management from Stanford Business School and a certificate in private equity from China Europe International Business School.
Elsie Chung, Senior Manager, Finance. Elsie joined Headland in 1999 and is a member of the finance team where she now focuses on fund accounting and administration. Prior to joining Headland, Elsie was with Ernst and Young in Hong Kong specializing in the audits of listed companies, mainly in the manufacturing and import and export trading sectors. Elsie holds a Bachelor of Science honours degree in Business Economics from City University of Hong Kong and is a member of the American Institute of Certified Public Accountants.
Chi Hyun Kim, Senior Manager. Chi Hyun joined Headland in 2011 and is a member of the South Korea investment team. Prior to joining Headland, Chi Hyun was with the M&A team at UBS where he was actively involved in M&A, equity and debt capital market transactions across Asia. Chi Hyun is fluent in English and Korean. Chi Hyun is a magna cum laude graduate of Georgetown University with majors in Finance and Accounting and is a member of the United States Institute of Certified Management Accountants.
Lovonny F Lam, Senior Manager, Finance. Lovonny joined Headland in 2008 and is a member of the finance team. Prior to joining Headland, Lovonny worked for PCCW where she had a major role in global business and group reporting. In prior years, she also worked for PriceWaterhouseCoopers focusing on the audits of companies in the hotel, airline and trading sectors. She is a graduate of The Hong Kong Polytechnic University and is a member of the Association of Chartered Certified Accountants in the UK.
Eddie Lee, Manager, Finance. Eddie joined Headland in 1993 and is a member of the finance team. Eddie started his career in financial audit with a medium sized audit firm in Hong Kong specializing in the finance, trading and manufacturing sectors prior to joining Headland. Eddie is a graduate of the Hong Kong Polytechnic University in Accountancy.
George Lu, Manager. George joined Headland’s team in 2011 and is a member of the venture investment team. He was previously employed by Rx Investment Management Corporation in Shanghai and KPMG Shanghai, where he worked on IPO projects and provided audit services to clients in industries such as communications, education and healthcare. He received his bachelor‘s degree from Shanghai Jiao Tong University.
Jeff Lu, Manager. Jeff joined Headland in 2011 and is a member of the venture investment team. Prior to joining Headland, he worked at Ernst & Young, where he provided audit services to clients in industries such as real estate, automobile and fast moving consumer goods. He graduated from Shanghai University of Finance and Economics with a Bachelor’s degree in management and is a member of the Chinese Institute of Certified Public Accountants.
Augustya Somani, Manager. Augustya joined Headland’s subsidiary, Headland Capital Partners (India) Private Limited, in 2011 and is a member of the venture investment team. Prior to joining Headland, he worked for Kotak Institutional Equities (Equity Research) in Mumbai as a financial analyst covering diversified mid-cap stocks. He also worked for Morgan Stanley Advantage Services in Mumbai in their Investment Banking Division. He holds an MBA from the Indian School of Business and is a member of the Institute of Chartered Accountants of India.
