JP Morgan taps ex-CICC chief for China operations
23 April 2008
J.P. Morgan Chase & Co hired former chief executive of China International Capital Corp (CICC) Elaine La Roche as vice chairman of its China securities business, the Wall Street Journal reported, citing J.P. Morgan internal documents. La Roche served for two years at the helm of CICC, a joint venture between Morgan Stanley and China Construction Bank in 1995. La Roche joins a number of CICC alumni hired to high-profile positions in China. In March, Goldman Sachs promoted Cai Jinyong to chief executive of its China joint venture, who joined fellow CICC veteran and current Goldman Sachs chairman Fang Fenglei. La Roche will report to Gaby Abdelnour, chairman and CEO for Asian-Pacific operations at J.P. Morgan.
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