Alex To, Morgan Stanley's chairman of China investment banking, is leaving to join Bank of America Corp. in a similar role, according to two people with knowledge of the matter.
Bloomberg news reports that To will be head of investment banking for China at Bank of America, the people said, asking not to be named because the move hasn’t been announced. To joined Morgan Stanley in 2006 and focused on clients in the consumer and retail industries in China, a second person said.
Nick Footitt, a Hong Kong-based spokesman for Morgan Stanley, confirmed To is leaving the firm. To declined to comment when reached by phone.
Catherine Cai and Wang Bing, co-heads of Bank of America’s investment-banking unit for China since 2011, will focus on originating deals after To joins the firm, one of the people said. Wang didn’t answer two calls seeking comment. Cai didn’t immediately respond to a message left at her office in Hong Kong.
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