The leading independent investment bank headquartered in Shanghai

Known for its unmatched skills in closing complex transactions, E.J. McKay is a boutique investment banking firm with deep local and global relationships to help you accomplish your strategic goals.

Record of success in cross-border transactions involving Asia

E.J. McKay is an independent investment bank with a focus on Asia-related transactions with offices China, India, Japan, and a presence in major financial centers around the world. The firm’s services include M&A, strategic advisory and capital raising.

E.J. McKay pioneered the China – Nordic transaction corridor, initiated the capital flows between China and India and has a history of advising clients on some of the most significant and complex transactions between China and Europe, North America, India, Latin America, and the Middle East.

Tradition of innovation & a focus on results

James Li founded E.J. McKay with a vision of becoming the capital link between China and the world. In 2002, China and India were primarily on the receiving end of capital, and global clients were seeking customized local solutions to meet their business objectives.

Over the years, capital flows have become multi-directional. Ongoing geopolitical developments, technology impacts, recessions and economic recovery have all contributed to a dynamic market environment. The core mission of the firm, however, remains the same—delivering maximized results to our clients through innovation and disciplined execution.

Why E.J. McKay?


Experience advising and closing hundreds of Asia-related transactions for clients spanning a broad range of industry sectors and geographies. Capabilities include buy-side and sell-side M&A, joint ventures, inbound and outbound investments, restructuring, capital raising and fund formation. Our disciplined approach to transaction management produces successful results.


One of Asia’s longest-standing investment banks with deep local relationships and intimate knowledge of multiple Asian markets, regulations and cultural and business intricacies. Mainland Asian offices include Shanghai, Beijing, Shenzhen, Tokyo, Delhi and Mumbai.


A network of relationships spanning the globe and team presence in major financial centers. Strategic partnerships with top investment and merchant banks in five continents, as well as close relationships with financial sponsors, corporations and entrepreneurs in a broad range of industries.


Deep expertise across a broad range of sectors including industrials, healthcare, consumer, technologies, and others. Knowledge and insight based on first-hand transaction experience and market perspectives, allowing us to deliver realistic advice and actionable solutions across engagements.


One of the few remaining closely held investment banks in Asia; our independent status allows us to build our business based on insight, innovation and independent thinking. E.J. McKay interests are aligned with the long-term interests of our clients.


We distinguish our firm with a dedicated commitment to delivering results, exceptional client service and by conducting ourselves with the highest standards of integrity.

Corporate Citizenship

E.J. McKay works to create an environment in which individuals, families and businesses thrive. We are dedicated to improving the communities in which we serve, in China and around the world, with a special emphasis on improving access to a quality education. Specific efforts include:

The Keith K. Li Memorial Foundation

Our foundation was established by E.J. McKay in 2013 in honor of our dear friend and alumnus, Keith Kai Li, known to his friends and family in China as Li Kai. The Foundation’s mission is to honor Keith’s memory by supporting the causes he was unable to finish and those we believe he would wish to support. These include gifts to his alma maters and other educational institutions, as well as public health initiatives.

Corporate Giving

E.J. McKay supports causes for underprivileged children, international understanding and educational initiatives at leading schools and universities with the purpose of helping create a progressive, inclusive and stronger world. We support research, development, teaching, financial aid and other progressive causes both in China and internationally.

Employee Engagement

We encourage our team members to make a difference by giving their time, passion and energy to progressive social causes that have positive impacts in our community. Our professionals bring their expertise to volunteer projects for various non-profit organizations— including pro bono advisory services to a variety of foundations and institutions, teaching at local schools, and leadership in various other positive causes.

Management Committee

James Z. Li

Group Chairman & CEO

James Li is the Founder and CEO of E.J. McKay. With over 20 years of experience in the financial markets in China and around the globe, his expertise encompasses a broad range of industries and geographies. Formerly, James was an investment banker with Merrill Lynch in New York and Hong Kong, a consultant with McKinsey in Hong Kong and Shanghai, and head of China for VA Tech AG (now part of Siemens AG) based in Beijing. James holds master’s degrees from Oxford and the University of Chicago, and an AB from Harvard. He is the Secretary General of the Harvard Club of South China GD, formerly he was the Secretary of the Oxford Society in Shanghai, and a member of the World Economic Forum’s Global Agenda Council on China. James is also an adjunct professor at Tsinghua University and Zhejiang University, and a mentor at the Schwarzman College and CKGSB. James is a supporter of the capital campaigns for Harvard and Oxford, and is the benefactor of a number of scholarships at Harvard University and Dartmouth College.

Peter F. Tufo

Chairman – International

Peter Tufo is the Chairman of E.J. McKay International. He formerly served as US Ambassador to Hungary where he managed some of the most pivotal historical events representing the United States and NATO. Before his time in Hungary, he was Senior Managing Director at the investment banking division of Merrill Lynch and a senior partner with Wall Street law firm Milbank Tweed, Hadley & McCloy.

In addition to his private sector experience, Peter has had a distinguished career in public service, having served as the Chairman of the New York City Board of Correction and Chairman and CEO of New York State Thruway Authority. An ex-marine and speaker of Polish, Peter graduated with a JD from Yale Law School and was the President of the Yale Law School Alumni Association. He also studied at Oxford as a Marshall Scholar.

Kamal K. Rungta

Chairman - South Asia

Kamal Rungta is Chairman of E.J. McKay’s South Asian operations. He has initiated and advised many China-India transactions spanning sectors such as healthcare, consumer, industrials, and technologies.

Kamal formerly held executive positions at Procter & Gamble and leading India pharmaceutical company Maxgene Probiotics. He is a graduate of Indian Institute of Technology (IIT), and holds a master’s degree from Pennsylvania State University.

Kamal also has extensive experience in investing and coaching high tech startups, especially in the IT and healthcare sectors, and is well tapped in the Indian high tech circles.

Tomas Holmberg

Chairman - Northern Europe

Tomas Holmberg is the head of E.J. McKay in Northern Europe. He has advised many Nordic-China transactions, particularly in the fields of telecom, technology, manufacturing, and financial sponsors.

Tomas was a senior partner at Helsinki-based international law firm Hannes Snellman, where he opened the firm’s China office and headed its Ukraine office, and where he started his legal career in 1993. Prior to rejoining Hannes Snellman in 2001, Tomas held various senior legal and management positions at Nokia Networks and Nokia Ventures Organization, including Nokia Home Communications and Nokia Multimedia Terminals. Tomas holds a Master of Laws from the University of Helsinki in Finland.


Siegfried Drueker

Siefried is an advisor to E.J. McKay based in Frankfurt, Germany, and one of the most highly regarded bankers in Germany.

He was formerly the head of Leonardo & Co. in Germany, the founder of Drueker & Co. GmbH, the most successful independent investment bank in Germany, prior to its merger with Leonardo. Prior to founding Drueker & Co., Siegfried was the head of Morgan Stanley, and Head of JP Morgan of Germany. He advised numerous German and European transactions through his banking career. Siegfried is a graduate of the University of St. Gallen in Switzerland.

Ernest Darkoh

Dr. Ernest Darkoh, co-founder of BroadReach, is an internationally-renowned expert on innovative, systemic solutions that improve public healthcare with a focus on applying new technologies, big data analytics and operational solutions to elevate decision-making and service delivery.

Ernest has been recognized by the World Economic Forum as a social entrepreneur and Young Global Leader, called out by New African Magazine as one of the 100 most influential Africans, and named one of eighteen “Global Health Heroes” by TIME Magazine. Before BroadReach, Ernest worked for McKinsey and the government of Botswana pioneering successful models to combat HIV AIDS. He holds an MD from Harvard Medical School, an MPA from Harvard T. H. Chan School of Public Health and attended Oxford as a Fulbright Scholar where he received his MBA from the Said Business School.

Donald Sull

Professor Donald Sull is a global expert on strategy and execution in turbulent markets at the MIT Sloan School of Management, where he is a member of the Technological Innovation, Entrepreneurship, & Strategic Management Group.

A prolific writer and speaker, Don is recognized by the Economist and Fortune magazines as a “management guru.” He is a member of the McKinsey Quarterly advisory board and a judge for the Harvard Business Review’s McKinsey Award. Don was formerly a Professor at Harvard Business School and London Business School, a consultant with McKinsey and a banker with leveraged buyout firm Clayton, Dubilier & Rice. He holds a BA and DBA from Harvard University and was a Baker School at Harvard Business School.

Xiaobo Wu

Changjiang Chair Professor Xiaobo Wu is the Dean of the School of Management at Zhejiang University, Director of the National Institute for Innovation Management, Director of Global Zhejiang Entrepreneurs and Director of the Zhejiang University-Cambridge University Joint Research Centre on Manufacturing. He is based Hangzhou, China.

A renowned scholar in the fields of innovation, entrepreneurship, organizational learning and globalization, Professor Wu holds a Ph.D. in Management Science and a BS in Physics from Zhejiang University. He was a Fulbright visiting professor to the MIT Sloan School and visiting scholar to University Cambridge, among many of his academic affiliations. Professor Wu is a prolific writer and advisor to select government and corporate institutions.