Uber hires ex-Goldman banker to fire up its Asian business

(Aug 17): Uber Technologies Inc. is hiring Goldman Sachs Group Inc.’s former chairman for Southeast Asia to lead the development of its business from Japan to Singapore.

Brooks Entwistle, who announced his retirement in 2012 after two decades at the US investment bank, will become Uber’s chief business officer in the Asia Pacific and a key member of the ride-hailing giant’s regional leadership. His responsibilities will include forging partnerships and autonomous vehicle alliances across the region, excluding India. He’s joining Uber from Everstone Group, a private equity and real estate firm with offices in India and Singapore, where he served as chief executive officer.

Uber is hiring an American financier with deep Asian experience as well-funded local rivals undermine its business. Didi Chuxing drove Uber out of China last year and and Grab -- now its fiercest regional rival -- raised US$2 billion ($2.73 billion) last month from Didi and SoftBank Group in what was the largest-ever venture funding in Southeast Asia. Uber’s rapid expansion across the region has also spurred clashes with local governments including in the Philippines, where it’s fighting a government-imposed suspension.

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