Goldman's new man in China
Cai Jin-Yong takes over as CEO of Goldman Sachs Gao Hua and also assumes a new role as president of China investment banking.
Goldman Sachs has appointed Cai Jin-Yong as CEO of Goldman Sachs Gao Hua Securities, its joint venture in China, to replace Zha Xiangyang who is retiring from the firm, according to an internal announcement. The appointment, which is effective immediately, comes as competition in China heats up with more international investment banks expected to be allowed to underwrite domestic securities soon. At present Goldman Sachs and UBS are the only two foreign firms with a license to do this.
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