Goldman Sachs's co-head of Asia investment banking, Richard Ong, is leaving in March, after 15 years at the firm.
Ong, 42, could not be reached for comment, but fellow bankers say he will likely show up in the region in a few month’s time as “a private-equity guy”.
Several sources say that Ong is likely to join Fang Fenglei, Goldman's Chinese partner who is starting up a private equity fund called the Hopu Fund in China. Ong has publicly denied this -- but, say sources, this may just mean that the agreement isn't finalised. It's likely they will work together.