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Jefferies’ Asian chairman has resigned in less than three years

Jonathan Slone has resigned from the Asian post at Jefferies, a US-based bank, and less than three years later has been charged with secrecy.

Slone is one of Hong Kong’s best-known financial experts, who has worked for the leadership of CLSA, a local business venture, for 30 years.

Slone has confirmed to the Financial Times that he will relinquish his position and become Jefferies’ chief adviser worldwide since November 30, adding that he will remain in Hong Kong.

An internal memorandum of employees seen by the Financial Times said the company hopes to “have the opportunity to invest with Jonathan in his next job”.

A source familiar with the matter said Slone wants to take a closer look at Chinese companies without any problems following works at a US bank in Hong Kong.

The traveler connected with Jeffries in July 2019 as part of a US bank expanding its Asian financial sector. The move came later suddenly quit as head of CLSA in March of that year.

The role was aimed at improving Jefferies’ relationship with investment banks and businesses across the region. Slone has also been accused of leading the way in the development of New York Bank in Asia as it seeks to participate in the market instead of combining trading with government funds. slower than most US competitors growth in the region.

Slone departure from CLSA was followed by a staff list leaving Hong Kong business, which changed dramatically after it was acquired by Citic Securities, China’s largest state bank, six years ago.

His resignation came at a time when Tang Zhenyi, a former CLSA chairman, and Nigel Beattie, a former operations chief, also resigned. A five-year contract between CLSA and Citic to protect the rights of the Hong Kong broker and its rights ended a few months ago.

Jefferies later recruited at least 50 people from CLSA, including their former global research chief, Edmund Bradley, and Christopher Wood, one of CLSA’s research experts.

“Three years ago, we made a plan to grow our team with our potential in Asia and Australia,” Jefferies told staff on Friday. “Unique talent was acquired by Jefferies and we have been very active and determined to invest as the opportunity is tight, and that was the case in Asia.”

“Our growth in Asia has been working together and Jonathan was instrumental in bringing everyone, which we are very grateful for,” he added.

Jefferies did not immediately respond to a request for comment.


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