China has a big headache bashing Citic Securities with CLSA, instead of getting its own version of Goldman Sachs

//China has a big headache bashing Citic Securities with CLSA, instead of getting its own version of Goldman Sachs

China has a big headache bashing Citic Securities with CLSA, instead of getting its own version of Goldman Sachs

The man tasked with building a Goldman Sachs for Communist China was done playing nice.With hundreds of staff gathered to hear him speak at the Beijing Four Seasons Hotel in January, Citic Securities Chairman Zhang Youjun called out leaders of his firm’s international unit by name and questioned their ability to earn a decent return on capital. In a room full of investment bankers, it amounted to a stunning rebuke.For the executives at Citic’s CLSA unit who sat listening to Zhang in silence, it…

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By | 2019-07-10T07:38:40+00:00 July 10th, 2019|Business|Comments Off on China has a big headache bashing Citic Securities with CLSA, instead of getting its own version of Goldman Sachs