Morgan Stanley plans to hire Temasek Holdings Pte’s former China head as a vice chairman of Asia-Pacific investment banking, people familiar with the matter said.
Ding Wei, 55, will focus on helping the U.S. firm develop its banking business in China and will be based in Hong Kong, the people said, asking not to be identified because the matter is private. He is expected to start work next month, one of the people said.
Morgan Stanley is ranked second among banks arranging Chinese overseas stock sales this year, behind UBS Group AG, according to data compiled by Bloomberg. The New York-based firm was the top arranger of such offerings last year, the data showed. It’s third this year among advisers on Chinese mergers and acquisitions, the same ranking as 2014.
Harriet Ngan, a spokeswoman for Morgan Stanley in Hong Kong, declined to comment on the recruitment plans.
Ding was hired by Temasek, Singapore’s state-owned investment firm, to build up its China business in February 2011. He stepped down from that role in October 2013 and became a senior advisory director for China until early 2014.
Prior to Temasek, he was head of investment banking at China International Capital Corp., the former Chinese securities venture with Morgan Stanley, and was China country officer for Deutsche Bank AG from 1999 to 2002.