Tianjin lures ex-Merrill director
Red chip Tianjin Development Holdings has head-hunted former Merrill Lynch investment banking director Dong Ming as its executive deputy general manager in a move that will enhance its management strength.
The company, listed in December last year, is the Hong Kong-listed flagship company of the Tianjin municipal government. Tianjin is one of the four municipalities directly under State Council control.
Officials of Tianjin Development said the mainland-born Mr Dong had started work this week.
He was unavailable for comment yesterday, with officials saying he had already represented the company on a business trip to the mainland.
Mr Dong helped Tianjin Development during its listing in December last year, alongside Merrill Lynch's head of China investment banking Charles Li Xiaojia.
Before joining Merrill Lynch, Mr Dong was a corporate finance manager at the now-defunct Smith New Court Far East.
Mr Dong enters the growing ranks of investment bankers and regulators joining mainland-based red chip firms in need of financial expertise and management personnel to help them stay competitive.
The most notable of these is arguably Herbert Hui Ho-ming, former chief of the stock exchange's listing division, who joined Guangdong Investment as managing director.
Others include Dennis Lam, formerly with Nomura, who later became managing director of China Travel International Investment Hong Kong.
