Hong Kong (Reuters) – According to two sources with knowledge of the situation, China International Capital Corp Ltd (CICC) has appointed seasoned dealmaker Wang Shuguang to head its investment banking division.
Wang Sheng, the bank’s prior head of investment banking, has transferred to China Galaxy Securities to assume the role of chief executive officer of the smaller competitor, effective July 11.
Although they share the same last name, they are unrelated.
The CICC did not react quickly to a request for comment.
According to his official biography, Wang Shuguang joined the nation’s oldest investment bank in 1998, three years after its founding, and has more than two decades of experience in dealmaking.
He developed CICC’s growth enterprise investment banking section, which focuses on supporting China’s rapidly expanding new economy companies, and has helped the bank broaden its clientele outside the state-owned enterprises group.
Wang was most recently the co-head of the alternative investment division of the CICC, Capital Management.
