China Merchants' investment banking arm has reportedly lost a handful of executives, amidst signs of slowing capital markets.
At least five Hong Kong-based investment bankers have left CMB International Capital, according to a «Bloomberg» report citing unnamed sources.
The departures include two vice presidents and some associates.
The latest exits follow reports that at least two large Chinese investment banks are planning to lay off nearly one-third of their staff due to a difficult environment for new listings.
As of the end of May this year, Hong Kong’s main board saw 21 newly listed companies that raised HK$16.9 billion – down 46 percent and 91 percent, respectively – according to data from the local exchange.
