HONG KONG: Nomura Holdings Inc hired three managing directors in Hong Kong to bolster its investment banking business in China amid slowing growth in the world’s second-biggest economy.

       The Tokyo-based bank recently hired 25-year veteran Wu Sheng from China Merchants Bank International as vice-chairman of China investment banking, and Jason Zhang, a former Citigroup Inc banker, to focus on the bank’s advisory business for sustainable technology and infrastructure companies and projects in China, according to internal memos from Patrick Kwan, head of investment banking, Asia ex-Japan, and Erik Tung, head of China investment banking.

       Wayne Yue has re-joined Nomura’s China investment banking team to focus on dealmaking with healthcare companies, according to one of the memos.

       He was most recently head of structured finance and investment banking services at Shenwan Hongyuan, the memo said.

       All the new hires report to Tung. A Hong Kong-based spokesman confirmed content of the memos.

       Wu has also worked at Barclays Plc and Morgan Stanley. Zhang was most recently chief financial officer at Phoenix Tree Holdings Ltd and a former industrials group banker at Citigroup.

       The hirings follow Nomura’s 2020 acquisition of boutique investment bank Greentech Capital Advisors. — Bloomberg