China banker swapping continues

Morgan Stanley hires Kai Yang from Citigroup.
March 22, 2006
In what looks like a bizarre swapping of China staff between two US firms, Morgan Stanley has hired Kai Yang from Citigroup. This follows its own recent loss of managing director and co-head of China investment banking, Jing Zhao to Citigroup, who became a managing director in CitigroupÆs China investment banking team.

Morgan's hire of Kai Yang may go some way to filling the gap left by Zhao. The 40-year old Beijing-and-Oxford educated Yang will report to CG Wu, Morgan Stanley's head of China investment banking and MD Yang - and leaves Citigroup after just seven months.

If anybody were counting one could say Morgan Stanley is slightly ahead, since this is its second hire...

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