Goldman boosts private banking

Goldman creates new Asian CIO and poaches high profile private bankers from HSBC Private Bank.

In a move that signals a major push by Goldman Sachs in Asian private banking, it has moved one of its fixed income stars into a new Asia CIO position and hired a team of highly regarded private bankers from HSBC Private Bank. The move signals Goldman's attempt to reach critical mass in Asia's fast growing private client business - with market rumours suggesting the HSBC team has brought some very senior high net worth client relationships and assets with them.

The chief investment officer CIO for Asia role has been filled by Fan Jiang, Goldman's former head of fixed income research. A mainland Chinese, Jiang has worked in Hong Kong since 1995,...

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