Bangkok--16 Aug--Asian Banker
Hong Kong / Shanghai, August 15th 2011 - The Royal Bank of Scotland plc (“RBS”) today announces a further two senior hires in China as it continues to boost the strength of its wholesale and investment banking presence in the country.
Qing Cheng Hua has been appointed as Country Executive for RBS (China) Co. Ltd., the locally incorporated entity of the RBS group, subject to regulatory approvals. He will be responsible for executing the group’s China strategy and day-to-day operational management. Mr. Hua will also be responsible for managing the bank’s relationship with Chinese regulators. He will be based in Shanghai, reporting to Sherry Liu, Chairman and CEO for the RBS group in China.
Prior to joining RBS, Mr. Hua worked at JPMorgan Chase in China for over ten years, most recently as Managing Director, Executive Vice President & Shanghai Branch Manager. Mr. Hua’s career started in 1982 when he joined Bank of China Shanghai Branch. He then worked in Manufacturers Hanover Trust Co and Chemical Bank in Shanghai before joining Chase Manhattan Bank as Vice President & Shanghai Branch Deputy General Manager in 1995.
Throughout his banking career, Mr. Hua has had significant experience in a wide range of products across banking and markets and has strong relationships with a broad range of China’s leading financial institutions (FI) and large corporates. He also has rich experience in promoting renminbi (RMB) international business and successfully transacted a number of groundbreaking CNH (offshore RMB) transactions for leading FI clients. CNH is an asset class where RBS is developing a significant track record and has consistently ranked in the top 3 in league tables for CNH debt capital markets.
Commenting on Mr. Hua’s appointment, Sherry Liu, Chairman and CEO for the RBS group in China said: "Qing Cheng brings 30 years of experience in the banking industry in China, with particular strength in operational management and nurturing close relationships with regulators and financial institutions. We have made significant progress in our China growth strategy in the first half of the year, including the successful launch of our China securities joint venture company, Hua Ying Securities. We are confident that Qing Cheng will help us make further advances in our ambitious growth strategy in China."
In addition to Mr. Hua’s appointment, RBS also announces the appointment of Charles Zhuo Xiao as Managing Director, China Origination. Mr. Zhou will originate capital financing and financial advisory deals from Chinese state-owned enterprises (SOEs) and high-growth private enterprises. Mr. Zhou has more then 12 years of China investment banking experience. He last worked at Nomura as a senior member of the China Investment Banking team. Previously, he worked for CLSA in Beijing and spent over seven years at Lehman Brothers as a senior member of its China investment banking department and as Chief Representative of the Beijing Office.
Mr Zhou has strong relationships with numerous government and state-owned enterprises nationwide and has been active in many of the major IPO deals which have taken place in the banking and insurance sector in China. He will be based in Hong Kong, reporting to Ms. Liu.
RBS launched its securities joint venture, Hua Ying Securities, with Guolian Securities at the end of May 2011, making it the first UK bank to have a fully operational securities joint venture in China. Recently, the joint venture company successfully completed its first initial public offering (IPO) transaction on the Shenzhen Stock Exchange.
RBS provides comprehensive corporate and investment banking and markets services to major corporate and institutional clients in China and across the globe. Established in China in 1903, RBS operates through a locally-incorporated bank based in Shanghai with five branches in China and 500 employees. The bank has built multiple non-banking business platforms including: a wholly owned leasing company; a shareholding in Suzhou Trust; a joint venture with Galaxy Futures; and the newly established securities joint venture — Hua Ying Securities.
--www.theasianbanker.com (August 15, 2011)--