Moses Tsang Kwok-tai, who surprised many in the banking community when he stepped down as chairman and managing director of Goldman Sachs (Asia) in 1994,is forging a new relationship with his old firm.
The United States house said yesterday its former boss had agreed to become an adviser to the firm, effective immediately.
President Philip Murphy said: 'We are delighted that Moses has agreed to come back to his old firm. With his depth of knowledge of people, governments and companies in the region, he will be an invaluable asset in helping our business to grow.' Mr Tsang, once one of Hong Kong's best connected bankers, was elected a general partner at Goldman in 1988 and served as chairman in Hong Kong from 1989 to 1994. On his departure, he became a limited partner, a status he has retained.
A spokesman said yesterday that the appointment 'formalised' his relationship with the partnership, adding that the firm hoped to make better use of Mr Tsang's extensive network of contacts.
Before moving to Hong Kong, Mr Tsang, who spent 17 years with Goldman, worked for the firm in Europe and in Japan. In February 1996, Mr Tsang became a director at floppy disk maker Hanny Holdings.
Mr Tsang's 1994 departure was linked by some at the time to rumours of job cuts at the firm. The talk was rejected by both Mr Tsang and company officials.