Three senior investment bankers are said to have departed UBS' China business.
According to a «Bloomberg» report, Managing Directors Wang Cheng, Ding Xiaowen, and Frank Sun have all left UBS in Hong Kong.
Xiaowen, who ran UBS’s onshore securities joint venture before relocating to Hong Kong in the past year, will be joining Tianfeng Securities as Head of investment banking, based in Wuhan.
Cheng, who was Deputy Head of Investment Banking for Hong Kong, is said to be joining Morgan Stanley as Vice Chairman of Asia Pacific investment banking.
Other UBS Departures
The Swiss bank has seen a number of bankers exit its investment banking business over recent months including one of their top bankers with the departure of the Head of Corporate Client Solutions for Asia, Joseph Chee, who resigned to start his own fund.
Chee was the point person for Chinese state and private companies looking for capital.
