Goldman Sachs has hired the head of Morgan Stanley's China corporate finance team, Ziwang Xu, known as 'Mr Z' among his colleagues.
Mr Xu was joined by another former Morgan Stanley colleague, Carl Chien. Mr Chien, originally from Taiwan, will be familiar to regular readers.
His picture appeared on this page yesterday after winning the South China Morning Post's Fund Manager of the Year Awards.
Both new members of Goldman's investment banking team joined yesterday.
During his 31/2 years with Morgan Stanley, Mr Xu helped bring China Eastern and Shanghai Industrial's equity listings to market as well as launching last year's US$1 billion global bond for the Chinese Ministry of Finance.
In his new position, Mr Xu, originally from Shanghai, will be responsible for building a China team for Goldman as an executive director.
Tim Dattels, managing director and co-head of Asian investment banking said: 'With the handover coming, our greater China practice is growing.' Goldman's other new recruit, Mr Chien, will shift career paths as well as employers.
He will leave behind his highly successful money management job to focus on Goldman's corporate finance clients in Hong Kong and greater China as an executive director of the firm.
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