Deutsche Bank is losing one of its most senior Chinese investment bankers, Lee Zhang, to the Industrial and Commercial Bank of China ICBC in a high-profile appointment by the Chinese government, the German bank confirmed in a statement yesterday.
Zhang, 45, who has worked at Deutsche Bank for 10 years and holds the dual posts as China chairman and head of global banking for Asia-Pacific ex-Japan, has been appointed vice-president of ICBC. The appointment is subject to the approval of the China Banking Regulatory Commission, according to a filing with Hong Kong Exchanges and Clearing.
This is the first senior management position at a major Chinese bank to be filled externally by an executive...
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