In a bid to strengthen its Hong Kong staff following substantial departures, CLSA Ltd., the Hong Kong-based brokerage firm, has announced a series of leadership changes effective from November 1. The restructuring process, which has been underway since 2019 under Group Chairman Zhang Youjun, saw the appointment of Citic Securities veteran Li Chunbo as the new CEO.
Edward Park and James Xu, both long-standing members of CLSA with tenures exceeding 15 and 14 years, respectively, have been promoted to deputy CEO roles. Previously serving as Head of Institutional Equities and Head of Equity Derivatives and Prime Brokerage, respectively, their promotions mark significant shifts in the company's management structure.
The reshuffle also includes Jodi Wang's appointment as co-chief operating officer. This is part of the company’s ongoing efforts to complete integration with its parent company, Citic Securities, a Beijing-based state-owned brokerage.
This management overhaul began with the ousting of former CEO Jonathan Slone and has resulted in over 750 employees leaving between 2021 and early 2023. The restructuring also led to the dissolution of the original executive committee and staff relocation.
These changes are aimed at bolstering CLSA's workforce after a significant exodus and could signal the nearing completion of integration with parent company Citic Securities.
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