Maughan boosts KKR's Asia plans

Kohlberg Kravis Roberts (KKR) has announced a further move in the Asia region, appointing Sir Deryck Maughan as managing director and chairman of Asia. The news comes after the September announcement that the US-based private equity firm was expanding into Asia, with Joseph Bae leading the charge as managing director.

Maughan's arrival comes as a serious boon for the world's largest buyout firm, bringing both prestige and extensive international finance experience to the Asia role. Most recently, he was vice chairman of Citigroup and chairman and chief executive officer of Citigroup International.

Prior to holding the vice chairman role at Citigroup from 1998 to 2004, Maughan spent five years as the chairman and CEO of Salomon Brothers. Prior to this role, he held the position of chairman of Salomon Brothers Asia from 1986 to 1991.

Maughan's professional career also includes roles at H.M Treasury in London and at Goldman Sachs.

Outside of paid positions, Maughan is also a director of GlaxoSmithKline and of Reuters Group. He also has lead trustee positions at the Lincoln Center, NYU Medical Center, Carnegie Hall and the Japan Society.

In the academic world, he serves on advisory councils at Harvard and Stanford Universities. Previously, he has also held the title of vice chairman of the New York Stock Exchange and chairman of the US-Japan Business Council.

Upon joining KKR Maughan will work closely with its Asia-based executives and global industry teams, as the private equity firm grows its regional portfolio. KKR's announcement was not clear iif he will be based in Asia, but KKR has recently opened new offices in Tokyo and Hong Kong.