CLSA chiefs Slone, Beattie bail as parent Citic Securities boss gets heavy-handed

By Jonathan Breen
21 Mar 2019

CLSA took a hit this week after its long-serving chief executive officer, Jonathan Slone, and the bank’s chief operating officer both resigned, barely two weeks after chairman Tang Zhenyi also quit. The firm is caught in a struggle with its Chinese state-backed owner, Citic Securities, with the pair’s different approaches to investment banking a major sticking point. Jonathan Breen reports.

Slone, who joined the boutique bank in 1988, left in anticipation that his management style would clash with Zhang Youjun, the chairman of Citic, who is now also chairman of CLSA, following Tang’s departure. The bank is also losing global chief operating officer Nigel Beattie, according to a ...

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