September 23, 2009 / 9:45 AM / 9 years ago

UPDATE 2-Goldman hires DB banker to head Gr.China Securities

* Goldman names Greater China Securities Head

* Zhang hired from Deutsche Bank (Adds detail, clarifies relationship with Goldman Sachs Gao Hua Securities)

HONG KONG, Sept 23 (Reuters) - Goldman Sachs (GS.N) has hired Alan Zhang as a managing director and head of Greater China Securities, according to an internal memo obtained by Reuters.

Zhang joined from Deutsche Bank (DBKGn.DE) in Hong Kong where he was head of the Institutional Client Group, Debt and Equity for China and head of Global Markets Equity for China, the memo said.

Zhang, taking on a newly created position, will be focused on developing the securities franchise in Greater China for Goldman Sachs. He will be working closely with Goldman’s China partner, Gao Hua Securities, a domestic Chinese securities brokerage.

Goldman Sachs Gao Hua Securities is the investment banking joint venture between Goldman Sachs and Gao Hua. Goldman’s investment banking franchise in China has seen less success than its other groups across the region. Zhang will focus his attention on the securities side of the business. (Reporting by Michael Flaherty; Editing by Jacqueline Wong)

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