UBS Said to Hire CICCÕs Jiang for China Investment Banking Role

by swisscham in Bank, Finance, Insurance

Jiang Guorong, executive chairman of investment banking at China International Capital Corp., will join UBS AG, people with knowledge of the matter said. Jiang will take a senior role for China investment banking at Zurich-based UBS, said the people, who asked not to be identified because the information is private. The banker, who holds a Ph.D. in economics from Cornell University, has been a member of the Hong Kong stock exchangeÕs listing committee since June 2009, according to the bourse operatorÕs website. He previously worked at the Bank for International Settlements, International Monetary Fund and Hong Kong Monetary Authority, the website shows. Jiang is joining last yearÕs top equity underwriter in Asia Pacific, according to data compiled by Bloomberg. Share sales in the region raised USD 37.9 billion in the first quarter this year, down from USD 47.6 billion the same time in 2013, the data show. Rob Stewart, a Hong Kong-based spokesman for UBS, declined to comment. A Beijing-based spokeswoman for CICC, who asked not to be named citing company policy, couldnÕt immediately comment on JiangÕs departure. Jiang didnÕt immediately respond to three calls to his mobile phone seeking comment.

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