King will be succeeded by Samuel Kim and Peter Ding, said Hong Kong spokesman Nick Footitt in an interview. He declined to comment on where the banker is going. King, 44, will assume a similar role at Barclays, one of the people said, declining to be identified because the bank hasn’t announced the hire.
Barclays, the U.K.’s third-biggest lender by assets, has expanded its Asia investment bank in the past year to vie with Morgan Stanley and Goldman Sachs Group Inc. on merger and stock sale advising. The London-based bank is hiring Wu Sheng, a managing director at Citigroup Inc.’s China investment banking team, people with knowledge of the matter said yesterday.
Timothy Cuffe, a spokesman at Barclays in Hong Kong, declined to comment. The Wall Street Journal reported King’s departure earlier.
Kim, a former head of M&A for Korea at Morgan Stanley and most recently the firm’s chief operating officer for investment banking in Asia-Pacific, and Ding will become co-heads of M&A for the region, excluding Japan, Footitt said. Elizabeth Wang will replace Kim as COO for Asia-Pacific, he said.
Morgan Stanley formed a corporate finance execution team in the region, led by Terence Keyes, to focus on providing financing and mergers advice, Footitt said.