Bangkok--Sep 16--Aziam Burson—Marsteller
Appointment Comes as Lehman Brothers Strengthens China Presence
Firm Recently Named Qualified Foreign Institutional Investor
Lehman Brothers, the global investment bank, said it hired Zhizhong Yang as Managing Director and Head of Investment Banking for China, effective immediately. He will report to Kunho Cho, Lehman Brothers’ Head of Investment Banking for Asia-Pacific.
Mr. Yang will be responsible for expanding Lehman Brothers’ investment banking franchise in China, while building and leading a team of investment banking professionals. He brings a decade of corporate finance experience in China and Hong Kong to the role, having completed more than US$15 billion in financing and cross-border advisory transactions.
“We’re delighted to welcome a banker of Zhizhong’s calibre to our Asia investment banking team and look forward to his leadership in deepening our China presence,” said Kunho Cho, Lehman Brothers’ Head of Investment Banking for Asia-Pacific.
Mr. Yang’s appointment comes as Lehman Brothers, which opened its representative office in Beijing in 1993, expands its profile in China. In the past decade, the Firm has provided investment banking advisory and innovative solutions for its Chinese clients.
“China is a key component of our Asia and global strategy, and Zhizhong’s appointment is a significant step in building a robust presence in this vital market,” said Jesse Bhattal, Lehman Brothers’ Chief Executive Officer, Asia.
In addition to stepping up investment banking activities under Mr. Yang’s leadership, the Firm was recently granted its Qualified Foreign Institutional Investor license with an investment quota of US$75 million, and earlier this year launched the Xinhua Lehman China Aggregate Index, the first comprehensive series of indices tracking the performance of domestic Chinese bonds. Moreover, Lehman Brothers is one of the most active participants in China’s nonperforming loan market.
Mr. Yang joins the Firm following six years in Morgan Stanley’s China investment banking division, where he was instrumental in several high profile transactions in the telecommunications, technology, general industries and real estate sectors. He holds masters degrees from Massachusetts Institute of Technology in Boston and Tsinghua University in Beijing.
Lehman Brothers (ticker symbol NYSE: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private equity, asset management and private client services. The Firm is headquartered in New York, London, and Tokyo and operates in a network of offices around the world. For further information about Lehman Brothers’ services, products, and recruitment opportunities, visit our Web site at www.lehman.com.
For Immediate Release
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