O'Melveny acquires Freshfields former China head
April 1st, 2006LA-based O’Melveny & Myers has bagged the former head of Freshfields Bruckhaus Deringer’s China practise.
Michael Moser retired from Freshfields' partnership to be replaced by New York-qualified M&A specialist Douglas Markel, as revealed by The Lawyer (27 February). He will now co-head O’Melveny’s Asia practise, alongside current head Howard Chao.
He will work from the firm’s Hong Kong and Beijing offices. Moser has practiced in Asia for 25 years. His experience includes advising on M&A, foreign direct investment, technology licensing, and corporate restructuring. He also has experience resolving disputes between Chinese and foreign businesses.
Moser joined Freshfields in December 1999, after being poached from Baker & McKenzie, where he headed the firm’s China practice.
Moser is a member of the panel of the China International Economic and Trade Arbitration Commission (CIETAC), and vice-chairman of the Governing Council of the Hong Kong International Arbitration Centre.
He was made vice chairman of the Hong Kong International Arbitration Centre (HKIAC) in 2004, and was the first foreign national to be appointed an arbitrator in mainland China.
http://www.thelawyer.com/cgi-bin/item.cgi?id=119025&d=122&h=24&f=46
UBS appoints Henry Cai as China investment banking chairman
April 1st, 200603.31.2006, 05:15 AM
BEIJING (AFX) - UBS said it has appointed Henry Cai to the new position of chairman of investment banking for China, effective today.
The Swiss-based bank said in a statement that Cai, formerly with BNP Paribas, would work with its mainland banker Zhang Wendong and others in leading its China business.
Cai, who has 12 years experience in the listing of Chinese firms, lead managed more than 2.5 bln usd of underwriting projects in his previous job with BNP Paribas, the statement said.
http://www.forbes.com/markets/feeds/afx/2006/03/31/afx2636335.html
Wethington Named Chairman of AIG Companies in China
April 1st, 2006March 7, 2006
American International Group Inc. (AIG) reported that Olin Wethington, former special envoy on China, U.S. Department of the Treasury, has joined AIG as chairman of AIG Companies in China, a new position.
In this capacity, Wethington will oversee expansion of AIG's businesses in China. Wethington will report to AIG Senior Vice Chairman Edmund S.W. Tse, and will work closely with Tse and with AIG President and Chief Executive Officer Martin Sullivan.
Wethington has extensive experience in government and the private sector involving China. He has served in a variety of senior positions in the U.S. Treasury Department, including special envoy on China in 2005; counselor to the Secretary of the Treasury; and assistant secretary for International Affairs.
Commenting on Wethington's appointment, Sullivan said, "We are delighted that Olin Wethington will be joining AIG in such a senior position. Olin's many accomplishments include negotiating on behalf of the U.S. government a number of financial market agreements with other countries. China is a very important market for AIG, dating from the earliest days of the company. AIG re-entered the Chinese insurance market in 1992, the first foreign company to do so, and we now have extensive life and non-life insurance operations in the major Chinese cities. Going forward, we expect to grow these businesses, as well as continue to develop our financial services and asset management operations. I expect Olin Wethington to be a key leader of our expansion efforts in China."
http://www.insurancejournal.com/news/international/2006/03/07/66243.htm
Taiwan Greater China Fund Appoints Vice Chairman
April 1st, 2006NEW YORK--(BUSINESS WIRE)--Feb. 27, 2006--The Taiwan Greater China Fund (NYSE:TFC), a diversified closed-end investment company registered in the United States, today announced that its Board of Trustees has appointed Frederick C. Copeland, Jr. as Vice Chairman. Mr. Copeland has been a Trustee of the Fund since May 2004.
From 1995 to 2001, Mr. Copeland served as President, Chief Executive Officer and Chief Operating Officer of Aetna International, where he was responsible for all of Aetna's insurance and financial services activities outside the United States and was a member of Aetna's CEO Management Committee. He left Aetna following the company's acquisition by ING at the end of 2000.
Prior to joining Aetna, Mr. Copeland headed the Connecticut operations of Fleet Bank for two years. Mr. Copeland began his banking career at Citibank in 1967 and spent 25 years there, during which period he held various executive positions that included acting as President and Chief Executive Officer of Citibank Canada from 1987 to 1993. He served as Citibank's Taiwan Country Head from 1983 to 1987, at which time Citibank's assets in Taiwan exceeded those of any other foreign bank.
Mr. Copeland has also been the Vice Chairman of Far East National Bank (FENB) since 2005. Based in Los Angeles, California, FENB was founded in 1974 as the first federally chartered Asian American bank in the United States, and became a wholly owned subsidiary of Taiwan's Bank SinoPac in 1997.
The Taiwan Greater China Fund is listed and publicly traded in the United States. The Fund is organized for investment in securities of Taiwan issuers by non-Taiwan investors and follows an investment strategy of primarily investing in Taiwan listed companies that derive or expect to derive a significant portion of their revenues from operations in or exports to mainland China.
China Netcom CEO Plans To Leave And Work For Venture Fund
April 1st, 2006February 28, 2006
Rumors are swirling that Edward Tian, CEO of China Netcom (CN), plans to leave the company to head a new venture fund.
Local media report that Tian will lead a Chinese broadband services fund that could be financed by Rupert Murdoch and Hong Kong's PCCW.
No specific departure date has been determined and officials at Netcom have not made any comment.
http://www.chinatechnews.com/index.php?action=show&type=news&id=3610
China Shenzhen Investment hires UBS analyst as COO
April 1st, 2006Last Update: 10:03 AM ET Mar 20, 2006
HONG KONG (MarketWatch) -- Shenzhen Investment Ltd. (0604.HK) said it has appointed Joe Zhang, formerly a high-profile research analyst for Swiss bank UBS AG (UBS), as its chief operating officer.
Shenzhen Investment is a Hong Kong-listed company controlled by the municipal government of Shenzhen, Guangdong province, which borders Hong Kong. It has interests mainly in property and infrastructure.