European private equity group Investindustrial has made a senior appointment in Shanghai, with a view to expanding its presence in Asia to further support the growth of its portfolio companies.

The firm has hired Michael Guan from Deutsche Bank as chairman of Asia and senior principal. He previously served as chairman for M&A in North Asia at Deutsche Bank, which he joined in 2017. Prior to that, he was a managing director at Edmond de Rothschild.