One of Goldman Sachs' most senior China bankers has quit to follow in the footsteps of several former colleagues who left the group to establish mainland private equity funds.
Fred Hu, the bank's chairman of greater China, will retire as a partner next month after a 13-year career at Goldman, according to an internal memo seen by the Financial Times. He will remain as an advisory director.
Mr Hu plans to set up a private equity fund focused on Chinese deals, according to people familiar with the matter, and has contacted potential local and foreign investors in recent weeks.
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