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MOVES-HSBC Qianhai plans 50-person research team

Reuters - UK Focus

By Steve Slater

LONDON, Dec (Shanghai: 600875.SS - news) 8 (IFR) - HSBC has expanded its Asia research with a 15-person team in Shenzhen following the official launch this week of its HSBC Qianhai Securities joint venture, and expects to have 50 people in the medium term.

HSBC said the new HSBC Qianhai team will be led by Steven Sun, HSBC’s former head of Hong Kong and China equity research and head of equity strategy for China, and will provide substantial coverage of China’s domestic A-shares.

The 15-person research team includes Frank He for IT hardware, Guo Yi for media and internet, Nora Min for autos and components, Katharine Song for consumer staples, Zhang Bing for IT software and Zhao Zhijie for healthcare.

HSBC Qianhai Securities opened its doors this week after HSBC gained approval in June. It is the first Chinese securities joint venture to be majority owned by a foreign bank. (Reporting by Steve Slater)