Morgan Stanley's China investment banking team is said to be undergoing a major upheaval following rumours that its current CEO Jonathan Zhu decided to leave the US investment bank late last week. Zhu is said to be heading to Bain Capital where he will head the Boston-based private equity firm's China operations.
Zhu has long been one of Morgan Stanley's most highly rated bankers having amassed 10 years experience bringing Chinese companies to the international capital markets. If confirmed, his departure will propel yet another senior investment banker down an increasingly well trodden path into the world of private equity.
Last year, for example, Goldman Sachs lost...
