Citigroup hires new China banker

The firm snags Jing Zhao in a game of musical chairs with Morgan Stanley.
In what has become a game of Mainland musical chairs between two of the worldÆs largest banks, Citigroup has announced that Morgan StanleyÆs former co-head of China investment banking, Jing Zhao has joined the firm. The appointment by Citigroup comes one day after Zhao left Morgan Stanley and less than two months after the bank hired Wei Christianson, from Citi, as its new managing director and China CEO.

The hiring of Zhao as managing director in its China investment banking division comes as a big coup for Citigroup, as it attempts to rebuild its China team after losing Christianson, its former chairman of China for its global markets team. Meanwhile Francis Leung, its former...

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