The Asia bond syndicate head of Standard Chartered has resigned to join one of its mainland rivals in an unexpected shake-up of the emerging-market focused bank’s regional debt franchise.
Chao Li is leaving Standard Chartered to join CICC in Hong Kong, taking a broader role to oversee the origination and syndication, as well as sales and trading for the Beijing-based brokerage firm, according to a person familiar with his thinking.
The move comes at a time when China's banks follow their Chinese corporate clients in expanding overseas, with their debt franchises at the vanguard of the trend, as fixed-income products are easier to upsell.
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