CSFB Names Chinese Head of Investment Banking
Credit Suisse First Boston named Zhang Liping head of
investment banking for China, replacing Ms. Wei Christianson,
who appears to be headed for Citigroup.
Zhang was originally the chief executive of a Hong Kong
film production company. Formerly he worked at Merrill
Lynch. Although he has not been involved in investment
banking for several years, he is respected and is not
considered to be a "princeling", or someone
hired because of his family connections to the government
in Beijing.
As China heads for the December 2006 Big Bang, when the
country is opened to foreign retail consumer and investment
banking, non-Chinese banks have been tripping over themselves
to curry favor with the Chinese government so that they
can maneuver themselves into a more favorable position.
So far, the most successful has been Goldman
Sachs, which has set up its own subsidiary, and is
now the only foreign bank authorized to issue bonds and
equity in China.
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