Citi lands big China hire

Former UBS China investment banking chief Zhang crosses to Citigroup.
Citigroup has strengthened its position in China, naming veteran banker Wendong Zhang as managing director in its China investment banking team. Reporting to Jing Zhao, CitigroupÆs head of China investment banking, Zhang is the latest hire by the firm to shore up its China investment banking franchise.

Zhang crosses to Citi from UBS where he was managing director and head of China investment banking for the firm. Prior to leaving this role in late 2006, Zhang was responsible for building the investment banking business and charting strategy for UBS in China.

Zhang joined UBS from Compass Venture Partners, a China focused private equity fund that focused on media, telecom and technology investment opportunities in the country. He co-founded Compass Venture Partners in 2000.

Prior to this position, Zhang was head of direct investments at Bank of China Investments.

To Citigroup, he also brings nine years of experience from Morgan Stanley, where he began his career in 1991. At Morgan Stanley, Zhang worked in Hong Kong, China and New York, holding responsibilities of identifying, developing and executing both investment banking and private equity transactions.

ZhangÆs appointment comes less than a year after Zhao moved to Citigroup from Morgan Stanley. In the following months, CitigroupÆs China investment banking team was also boosted by the arrivals of Sheng Wu and Yehong Ji later in 2006, who also crossed from Morgan Stanley.

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