One of the most senior bankers at the offshore unit of Citic Securities, China’s largest brokerage firm, has had his licence to work in Hong Kong’s equity capital markets revoked, official regulatory records showed.
Li Hang, head of international ECM and underwriting at Citic CLSA, is no longer a principal and is not licensed to carry out regulated activities in Hong Kong, according to records from the Securities and Futures Commission (SFC).
The licensing status was updated last Friday.
Reuters could not establish whether Li remains an employee of Citic CLSA, which is a top deal arranger in the Hong Kong stock market.
Citic CLSA did not immediately respond to a Reuters request for comment. Li did not respond to Reuters phone calls seeking comment.
Li, who heads the flagship offshore unit of China’s brokerage giant Citic, became a responsible officer at the investment bank in 2012, and was qualified to advise on and deal in securities, the records showed. A responsible officer in Hong Kong is a senior manager approved by the government to legally oversee and take personal responsibility for a financial company’s regulated business activities.
Reuters
