Nomura, the Tokyo-based global investment bank, has hired Zhiwei Zhang as its chief economist for China. The position had been empty since former chief China economist Mingchun Sum moved to rival Japanese firm Daiwa Capital Markets in Novemebr 2010.
Zhang is based in Hong Kong and will lead a team of three economists dedicated to covering China. In addition to his leadership role, he will focus on macroeconomic analysis of the mainland economy.
He took up his position yesterday and reports jointly to Rob Subbaraman, chief economist and co-head of fixed-income research, Asia ex-Japan, and Stewart Callaghan, head of equity research, Asia ex-Japan.
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