The head of Deutsche Bank's China business is to join ICBC, the mainland's top lender as part of plans to lure senior western-based executives to government-controlled institutions.
Deutsche Bank said on Monday that Lee Zhang, its China chairman and Asia regional head of global banking, is to become a vice-president of Industrial & Commercial Bank of China, the world's largest bank by market capitalisation.
Mr Zhang, who joined Deutsche in 2001 from Goldman Sachs, helped broaden the bank's onshore platform and win a string of high-profile mandates in China in recent years, including advising on the $22bn Hong Kong listing of ICBC.
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