The family-controlled firm has poached a high-profile investment banker from a U.S. rival. The move represents a coup for the European's firm's Asian ambitions.
Rothschild's investment bank said it is appointing Elizabeth Wang, currently head of Morgan Stanley's offices in Hong Kong, as its head of greater China. She is one of Asia's most high-profile investment bankers and an alumnus of Goldman Sachs and UBS.
She is to use her 20-plus year experience to advise clients on financial and strategic transactions. Prior to the American bank, Wang was head of Asian consumer and retail at UBS, and also worked for Goldman Sachs in London.
Wang, who was recognized two years ago as a leading female investment banker by The Women’s Foundation, replaces Jennifer Yu, who will remain chairman of Rothschild's advisory business in the region.
Chinese Ties
Yu, who has run Rothschild's advisory arm in greater China for the past 11 years, will shift her focus to the bank's investment business. She will keep her role as non-executive chair of Rothschild in greater China. Rothschild's executive vice-chairman of wealth management and global advisory in Hong Kong, Kelvin Chau, will keep that role.
In thanking Yu for her stewardship, Rothschild managing partner Robert Leitão said the bank is now the leading adviser to Chinese companies investing in Europe, after clinching a number of cross-border transactions involving Chinese entities. Rothschild has advisory offices in Beijing, Shanghai and Hong Kong, as well as a private banking presence in Hong Kong.
