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Equity Bottom-Up

<ul><li>Citic Securities, China's leading brokerage, has shifted over 100 investment bankers from initial public offering (IPO) roles to other divisions, in a major overhaul to address slowing business amid the stock market downturn.</li><li>Most of the employees affected were transferred to debt financing business while the rest were relocated to mergers and acquisitions, and investment departments, a person close to the matter said.</li><li>“The adjustment is an internal optimization of personnel, involving a broad range of investment banking positions,” said the person.</li></ul>

Citic Securities, China's leading brokerage, has shifted over 100 investment bankers from initial public offering (IPO) roles to other divisions, in a major overhaul to address slowing business amid the stock market downturn.Most of the employees affected were transferred to debt financing business while the rest were relocated to mergers and acquisitions, and investment departments, a person close to the matter said.“The adjustment is an internal optimization of personnel, involving a broad range of investment banking positions,” said the person.

Citic Securities Downsizes IPO Team as Business Slows 

Citic Securities (A)

Citic Securities Downsizes IPO Team as Business Slows