JP Morgan’s chairman of Australian operations has resigned from his directorships at the country’s bourse and sovereign wealth fund citing complications arising from a criminal prosecution over a stock issue the investment bank was joint-lead on.
Reuters reports that in an unprecedented move, Australian authorities earlier this month charged Citigroup, Deutsche Bank, Australia and New Zealand Banking Group and several executives with criminal cartel offences over the $2.3 billion capital raising in 2015.
And Bloomberg News reports that Goldman Sachs hired veteran dealmaker Wei Cai as co-head of its China investment banking business, making him a partner in a rare move as the firm seeks to capitalize on the nation’s financial-market opening.
Previously at private equity firm FountainVest Partners Co., Cai will head the business alongside Beijing-based Zhu Hansong, according to a memo obtained by Bloomberg. Edward Naylor, a Hong Kong-based spokesman, confirmed the appointment.
In the meantime, Bloomberg also reports that Macquarie Capital is hiring a Tesla business development director to lead the firm’s efforts to expand in the energy storage, electric transportation, microgrid and virtual power plant business.
Greg Callman, who helped direct Tesla’s expansion into energy storage, will join Macquarie Capital - an arm of Australia-based Macquarie Group - by the end of the month as the global head of energy technology in San Francisco. Macquarie Capital offers advisory and capital-market services.
And Bloomberg also reports that Royal Bank of Canada’s Greg Mills, the global equities head who spearheaded his firm’s fight against predatory high-frequency trading, is leaving RBC Capital Markets next month after two decades at the bank.
Mills, who led the global equities business out of Toronto since 2005, decided to depart after “productive discussions” the firm had on succession planning, according to an internal memo Monday from Mike Bowick, head of global markets. Mills, 56, will be succeeded by Bobby Grubert and Ahmed Kachenoura, effective July 1, Bowick said in a separate memo.