Senior bankers quit Wall Street jobs for corporate roles in Asia
The talent squeeze is being further tightened by intensifying poaching from rivals and a rising demand for qualified IPO sponsors
Published Tue, Mar 17, 2026 · 12:03 PM
[HONG KONG] At least half a dozen senior dealmakers at global investment banks in Asia have resigned to join corporate roles as the region’s volatile bonus cycle drives a talent shift towards less cyclical industries.
The departures include three JPMorgan Chase bankers: Virginia Zhang, a managing director in energy investment banking, and executive directors Lingling Chen and Jeff Zhou from the China team, according to sources familiar with the matter. All three are moving to corporate positions, the sources said, asking not to be identified before their new employers make official announcements.
Horace Liang, a managing director within Citigroup’s mergers and acquisitions team, also recently resigned to join a technology firm, the sources said.
The exodus comes as a surge in dealmaking, fuelled largely by equity capital markets, has prompted companies to recruit banking talent to bolster internal strategy and finance teams.
For bankers, the move offers a chance to lock in stable compensation packages and exit the high-pressure environment of investment banking before the current wave of capital raises and mergers inevitably ebbs.
Other high-profile exits include Kenneth Sun, Morgan Stanley’s head of healthcare investment banking for Asia Pacific, who is set to join Royalty Pharma to lead its regional business. Vijay Vaidyanathan, a 25-year veteran at Morgan Stanley, is joining Singapore Telecommunications later this year as managing director of group finance.
Representatives for JPMorgan, Morgan Stanley, and Citigroup declined to comment. The individuals involved either declined to comment or did not immediately respond to requests for comment.
While the deal pipeline for 2026 remains robust, policy uncertainty and geopolitical tension will continue to cloud executive confidence, according to a report by Boston Consulting Group.
The talent squeeze is being further tightened by intensifying poaching from rivals and a rising demand for qualified initial public offering (IPO) sponsors. In Hong Kong, regulators have stepped up scrutiny of IPO principals, increasing the premium on experienced bankers just as the technology, industrial, and biotech sectors trigger a fresh wave of transactions. BLOOMBERG
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