HONG KONG :China International Capital Corp Ltd's investment banking head, Wang Sheng, is set to leave the bank to take over as the chief executive of smaller peer China Galaxy Securities, six people with direct knowledge of the matter said.
The move comes as China Investment Corporation — Galaxy and CICC's biggest shareholder and parent — seeks to bolster Galaxy's investment banking business, which has for years focused on the brokerage segment and lagged domestic peers in the primary market, said two of the people.
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