LONDON (Bloomberg) — Kohlberg Kravis Roberts & Co. hired former HSBC Holdings Plc chairman Sir John Bond as a senior adviser as the buyout firm targets more companies in Asia.Bond, 65, spent 45 years at HSBC before retiring as chairman earlier this year, New York-based KKR said in a statement yesterday. He spent more than 20 years in Asia before taking charge of HSBC’s US unit. There, he helped former chairman William Purves turn the bank, which was established in 1865 to finance trade between China and Europe, into a global lender.

“As opportunities across Asia continue to emerge, John’s strategic insight and unique network and relationships will bring tremendous value,” Joe Bae, who runs KKR’s business in Asia, said in the statement.

KKR, which led the $31.3 billion takeover of RJR Nabisco Inc. in 1989, is buying companies in Asia, such as Agilent Technologies Inc.’s Singapore-based semiconductor unit, as competition in the US and Europe makes it harder to repeat past returns. Private equity firms raised more than $29.8 billion for Asian deals this year, and have spent $43.9 billion in the region, according to the Asian Venture Capital Journal.

The firm opened its first offices in Asia last year, and hired former Citigroup Inc. Vice chairman Deryck Maughan to oversee the expansion. Bae and Bond weren’t immediately available for comment.

KKR is facing competition from other US firms like Bain Capital LLC, which are also expanding in Asia.

Earlier this year, Boston-based Bain appointed Jonathan Zhu, former chief executive officer of Morgan Stanley’s China unit, to help lead its expansion in the region.

Bond stepped down in May after eight years as HSBC’s chairman and more than five years as chief executive officer. He made $60 billion of acquisitions for the bank and quintupled HSBC’s assets to $1.5 trillion as he expanded in China, Brazil, Mexico and Turkey.

He is currently chairman of Vodafone Group Plc, the world’s largest mobile-phone company.

The son of a merchant sailor who commanded ships in the Far East, Bond was educated at Tonbridge School in Kent, southeast England, from 1955 to 1959.

Two years later, aged 19, he joined the bank in Hong Kong, where it was still called The Hongkong and Shanghai Banking Corp.

After two decades in Asia, he took charge of the bank’s US business. HSBC relocated its headquarters to London from Hong Kong and changed its name after buying Midland Bank Plc in 1992, and Bond moved to London as CEO the following year.

He embarked on an acquisition spree that included the 11.5 billion-euro takeover of Credit Commercial de France in 2000, which gave HSBC corporate and retail banking customers in Europe.

The $15.5 billion purchase of US-based Household International Inc. followed in 2003, HSBC’s first foray into lending to people denied credit by other banks.

“John brings a wealth of knowledge and experience in the financial-services sector, which is a key focus for KKR,” KKR co-founder Henry Kravis said in yesterday’s statement.