The SAR investment banking arm of Bank of China has hired five senior executives to upgrade talent and compete with foreign banks now China is a World Trade Organisation member.
All Bank of China International's (BOCI) appointments were from top foreign investment banks, giving it much-needed global experience at the senior management level.
The competition is intense among the big investment banks to land lucrative Chinese initial public offerings and merger deals, and they fight hard to lure experienced professionals from rivals.
Analysts said the appointments show BOCI's commitment as a major player in the Chinese investment bank market.
'The Bank of China has made a clear decision to aggressively pursue international banking talent in an effort to significantly increase the profile and banking expertise of its staff in Hong Kong,' said Peter Ard, head of investment banking executive search at the London-based headhunter Harvey Nash.
Perhaps BOCI's highest profile new hire is Ho Cheuk-yuet, who joined BOCI as its new head of research and managing director this week. Mr Ho was the head of Greater China Sales and Research at HSBC Securities and CLSA deputy managing director.
