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BofA Adds to Hong Kong Hires Amid Questions on City’s Appeal

  • Robert Chiu rejoins as Asia vice-chair of investment-banking
  • Hong Kong client-facing roles rose by about 10% in past year
Bank of America Tower, center, in the Central district of Hong Kong, China.

Bank of America Tower, center, in the Central district of Hong Kong, China.

Photographer: Paul Yeung/Bloomberg
Updated on

Bank of America Corp. named Robert Chiu as Asia vice chairman of its investment banking business, adding to a string of recent hires in the city amid questions over its appeal as financial hub.

Chiu rejoins the bank after 10 years and will relocate from Shanghai, the U.S. lender said in a memo that was confirmed by a spokesman. The bank has boosted its client-facing roles in Hong Kong by about 10% in the past 12 months, according to a person with knowledge of the matter. The front-office headcount in investment banking increased more than 20% in the period, the person said, asking not to be identified because the information is confidential. The bank has more than 1,800 staff in Hong Kong.