CLSA Loses More Than Half of Its Hong Kong Bond Sales Team
- Five of eight in Hong Kong fixed-income bond sales left CLSA
- Departures come as Beijing cuts CLSA’s balance sheet and risk
This article is for subscribers only.
CLSA Ltd. has lost more than half of its fixed income team that focuses on bond sales in Hong Kong after its Beijing parent tightened control over the brokerage and cut down on risk, people familiar with the matter said.
The departures include five of an eight-member sales team in Hong Kong, which facilitates trades for institutions, the people said, asking not to be identified because they aren’t allowed to discuss personnel changes. Director Tom Carlone, associate directors, Luke Yang and Gary Lam, as well as associates, Chris Wai and Cherry Chan, all left in the past two months, the people said.