Gong steps down as JPM China IB chairman

Frank Gong plans to retire as JP Morgan’s China investment banking chairman, according to two people familiar with the situation. 

Gong’s decision is a surprise as he has only been in the role for about 10 months. In March 2014, then chief executive of China IB Fang Fang retired after 12 years with the firm.

There will be a transition period before Gong leaves the company.

During that period, Brian Gu and Jing Zhao, co-heads of investment banking in China, will take on Gong’s responsibilities and continue running day-to-day management of the China IB team, said a source close to the...