CICC appoints new investment banking head -sources

The enterprise brand of China Worldwide Cash Company Ltd (CICC), China’s very first joint venture financial commitment bank, is shown at a news convention on the firm’s yearly effects in Hong Kong, China March 30, 2016. REUTERS/Bobby Yip

HONG KONG, July 14 (Reuters) – China Intercontinental Funds Corp Ltd (CICC) has appointed veteran dealmaker Wang Shuguang to lead its investment banking business, explained two persons with awareness of the issue.

The appointment, powerful July 11, comes as Wang Sheng, the bank’s former investment banking head, has moved to China Galaxy Securities (601881.SS) to acquire above as main executive of the smaller sized peer. examine extra

The two have the very same surname but are not similar.

CICC did not right away react to a ask for for remark.

Wang Shuguang joined the country’s oldest expenditure bank in 1998, three a long time immediately after it was started, and has much more than two many years of experience in dealmaking, in accordance to an official biography.

He set up CICC’s expansion enterprise investment decision banking division, which focuses on serving China’s rapidly-rising new overall economy providers and has served diversify the bank’s consumers further than the condition-owned enterprises community.

Wang was most a short while ago the co-head of CICC’s Money Administration, its different expense arm.

Reporting by Julie Zhu and Selena Li modifying by David Evans

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