HONG KONG, Oct 30 (Reuters) – Goldman Sachs Group Inc’s co-head of its China investment banking business, Hansong Zhu, is retiring from the U.S. bank, according to an internal memo seen by Reuters on Wednesday.
Zhu, who has been with the firm for more than 19 years, was also Goldman’s head of the industrial and natural resources group in Asia ex-Japan and general manager of its China securities joint venture Goldman Sachs Gao Hua, according to the memo.
A Goldman spokesman in Hong Kong confirmed the content of the memo.
Wei Cai, who is co-head of China investment banking alongside Zhu at Goldman, will become the sole head of the unit. Zhu joined Goldman as an associate in 2000 and was named managing director in 2005 and partner in 2008. (Reporting by Julie Zhu and Sumeet Chatterjee; Editing by Kirsten Donovan)