At a time when Europe is bleeding talent in the banking space, Asia is facing huge competition for senior personnel. With a scramble for top-tier personnel unfolding in the Asian investment sector, UBS AG’s loss appears to be Citigroup’s gain, as it secures two senior bankers.
Jiang Guorong and Alison Harding-Jones have both landed at Citigroup in new lead roles, according to an earlier Reuters report.
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Jiang will be joining Citigroup as its newest Chairman and Head of the group’s China Corporate and Investment Banking, one of its highest growth segments. The hire is a huge gain for Citigroup as it looks to make inroads into the Asian capital markets and investments space, a niche formally dominated by UBS in recent years.
He will begin his new roles in September 2017 following a three-year stint with UBS. In this capacity, he worked as its Head of China Investment Banking as well as its Vice-Chairman of Asia Investment Banking. Jiang is a longtime banking veteran, also holding senior level roles at CICC, the Bank for International Settlements, and the IMF, among other leading roles dating back to 2000.
Citigroup has also brought in former UBS mainstay Alison Harding-Jones, following a lengthy career of twenty-eight years with the rival lender. In her new role at Citigroup, she will be installed as its new Head of Europe, Middle East, and Africa (EMEA) – M&A and Vice-Chairman of EMEA Corporate and Investment Banking. She will also be tasked with growing the group’s M&A market share across the EMEA sector, whilst working out of London.
Ms. Harding-Jones formally worked at UBS in multiple lead roles including as its Head of Asia Pacific (APAC) M&A. Raymond McGuire, Global Head of Corporate and Investment Banking at Citi, commented: “With her long track record of building successful M&A practices… she will be a strong asset to our team and a key part of our growth strategy.”