J.P. Morgan Asia-Pacific yesterday announced the appointment of Fang Fang as vice-chairman of Asia investment banking, and the hiring of Zili Shao as chairman and chief executive officer of J.P. Morgan's China businesses.
Fang is currently CEO of J.P. Morgan investment banking China, and continues to climb the hierarchy of J.P. Morgan as he expands his responsibilities. In his additional role as vice-chairman of Asia investment banking, Fang will lead the firm's investment banking strategy and business development efforts involving China in all markets across Asia.
Shao is currently Asia managing partner at Linklaters, a law firm with which J.P. Morgan has a long relationship. His appointment will strengthen J.P. Morgan's senior China management, as Shao brings knowledge and experience developed during his 11 years as a partner at Linklaters.
"I'm pleased to see Fang taking on an expanded regional role. Well respected internally by colleagues and externally by clients for building a leading investment banking business in China, Fang will continue to extend his leadership and partnership to a broader client base," said Gaby Abdelnour, the chairman and chief executive officer of J.P. Morgan Asia-Pacific, in a press release.
"I'm also delighted that [Shao] is joining our firm," added Abdelnour. "He will play an important role in the development of all our existing businesses in China, and he will also lead our long-term growth strategy."
Shao said he was looking forward to the opportunities offered by his move to J.P. Morgan.
"J.P. Morgan has immense scope to grow its China franchise, based on its major achievements in recent years and the firm's high reputational standards. I'm excited by the firm's potential in China and by the commitment of the management to a long-term investment plan," he said.
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