(Bloomberg) -- JPMorgan Chase & Co. has hired Yang Ruo to lead its China telecommunications, media and technology team, according to people familiar with the matter.
Yang previously served as chief financial officer at Shopline Ltd. and Xiaohongshu Technology Co., and was a co-chief financial officer at Fosun, according to his profile on LinkedIn. He also worked as an investment banker at Citigroup Inc.
He will be based in Hong Kong to help lead the China TMT franchise at JPMorgan, working on transactions including mergers and acquisitions and initial public offerings, the people said, asking not to be identified because the matter is private.
Yang’s hire follows the departure of Crystal Zhu earlier this year. Zhu, the former head of China TMT at JPMorgan, left to join rival Morgan Stanley, Bloomberg News reported in May. She had been at JPMorgan for about 15 years and worked as a managing director since 2019.
A representative for JPMorgan declined to comment.
JPMorgan has played an active role on large deals in China this year, such as the sale of convertible bonds by some of the biggest companies in the country, including Alibaba Group Holding Ltd., Trip.com and Ping An Insurance Group Co. The lender has also been a key adviser on some M&A deals this year, including the take private of L’Occitane International SA.
--With assistance from Dong Cao.
(Updates with background details in last paragraph.)
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