TMT companies tap niche ADR route for long-term benefits

In 2005, William Ng was tasked with kicking off Deutsche Bank's American Depositary Receipt business in the Chinese mainland, Hong Kong and Taiwan.

"At the beginning, it was pretty much a one-man shop," recalls Ng of his efforts to build the bank's market for ADRs, which are equity instruments that make it easier for non-US companies to list in the United States.

Ng says while he was "running around on the front line," his support staff consisted of only half the work hours of one other person.