Rothschild has hired veteran banker Elizabeth Wang to its investment banking team in China, betting on increased business from mergers and acquisitions involving Chinese companies.
Wang will head Rothschild Global Advisory in Greater China, the division responsible for M&A and strategic advisory and financing advisory services, the company said in a statement on Tuesday.
With more than 20 years of industry experience, Wang is a veteran Morgan Stanley banker with a Greater China background, who served as managing director and head of Hong Kong at the US investment bank. Before that, she was a managing director and head of the Asia consumer and retail unit at UBS. She had also worked for Goldman Sachs in Hong Kong and London.
“Elizabeth’s experience in M&A and in developing and leading investment banking businesses will be a great addition to the group,” Robert Leitão, managing partner at Rothschild, said in the statement. “We believe that she will contribute significantly to the efforts of our senior bankers in China and around the world to continue to develop Rothschild’s strategically important Greater China business”.
The addition of Wang will allow Jennifer Yu, Rothschild’s top executive in China, to focus on the group’s investment business. Yu was said to be one of the most influential dealmakers in China’s M&A business. She led Chinese carmaker Geely’s $1.2 billion acquisition of Volvo in 2010.
Yu will retain her role as non-executive chairman of Rothschild in Greater China, while Kelvin Chau will continue as executive vice-chairman of wealth management and global advisory in Hong Kong.
This story has been updated to better reflect Wang's role at Morgan Stanley