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JP MORGAN has hired five China-focused
research analysts in Hong Kong as the US
investment bank continues to add to its A-share
coverage.
Billy Feng has joined from UBS Securities, the
securities joint venture partly owned by UBS, as
senior China technology analyst. He previously
worked at CLSA and Thomson Reuters.
Patrick Xu has joined from Nomura as senior
China industrial analyst. He previously worked
at Barclays and DBS.
JP Morgan has also added Han Fu from rival
Morgan Stanley as China basic material analyst.
He previously worked at investment firm
Mandalay Capital Group.
Meanwhile, Qian Yao has joined as China
consumer analyst from Huatai Financial and Lei
Mu is due to join in August from Sinopec Corp as
China energy analyst.
The hirings come as several international banks
have been bolstering their A-share research
coverage following the decision last year by US
index provider MSCI to add Chinese mainland
stocks in its benchmark emerging markets index.
Last year, James Sullivan, JP Morgan’s head of
equity research for Asia ex-Japan, told Reuters
that the bank had increased its Greater China
coverage by 20% in 2017 and had a “fairly
aggressive investment plan” in place for the
following two years.
GF HOLDINGS (HONG KONG) has appointed Tang
Xiaodong as chief executive officer.
Tang joins the Hong Kong-based subsidiary of
GF Securities after four years with China Asset
Management, most recently as CEO.
Tang previously worked at the China Securities
Regulatory Commission and has also been with
Royal Bank of Scotland and ABN AMRO. Dean Hickey, Bank of America Merrill Lynch’s
head of utilities and infrastructure investment
banking for Australia, has left to join JP MORGAN.
It is not yet clear what position he will take
up at JP Morgan. Hickey joined BAML in 2014
from Rothschild & Co, where he worked as
an associate director in its infrastructure and
utilities team. WESTPAC BANKING CORPORATION has appointed
Anita Fung as a non-executive director and
member of its Asia advisory board, effective
October 1.
Fung is best known for her 19-year stint with
HSBC, including as Hong Kong chief executive.
She has also previously been with Standard
Chartered.
Fung, who stepped down from HSBC in 2015, is
a non-executive director of China Construction
Bank and Hong Kong Exchanges and Clearing. Shen Jianguang has left Mizuho Securities to
join JD FINANCE, becoming the latest executive to
swap his job in the banking sector for fintech.
Shen has been appointed vice president
and chief economist, the company said in a
statement last Thursday.
Shen joined Mizuho in 2010 and served as
managing director and chief economist for
Asia. He has also worked at China International
Capital Corporation, the International Monetary
Fund and the European Central Bank.
Earlier this month, JD Finance raised Rmb13bn
(US$1.9bn) in fresh equity, valuing the companyat nearly US$20bn. It has said it does not have
plans for an IPO. CREDIT SUISSE has hired Andy Tan in Singapore
as head of syndicate for South-East Asia in its
Asia Pacific financing group, the bank said last
Tuesday in a press release.
Tan, who started last Monday, will be
responsible for the syndication and distribution
of financing transactions across the APAC
financing group’s products.
He reports to Sergio Morita, head of syndication
& distribution for the APAC financing group,
who joined in March.
“With his deep client relationships and market
expertise, Andy is well positioned to further
our strategic focus of leveraging the unique
advantage of our integrated financing platform
to deliver sophisticated, bespoke financing
products and solutions across the entire capital
structure to our clients in South-East Asia and
Frontier Markets including Vietnam,” said
Morita in the press release.
Tan joins after a 12-year stint with United
Overseas Bank, where he most recently
was a director in the sector solutions group,
according to his LinkedIn profile. He also led
loan syndications for borrowers such as Tower
Bersama, San Miguel Corp, Marina Bay Sands
and Indonesia Eximbank across industries
including real estate, financial institutions,
telecoms, technology and energy in South-East
Asia.
He replaces Saurabh Banglani, who left in May
after nearly nine years with the Swiss lender.
Banglani was responsible for loan syndications
for South and South-East Asia.
In May, Credit Suisse hired Aditya Goenka as its
head of APAC financing group, India.