The chief executive of CLSA is planning to quit after three decades at the Hong Kong brokerage owned by China’s state-owned Citic Securities, adding to an exodus of senior executives.
Jonathan Slone’s planned resignation at CLSA follows a similar move by Tang Zhenyi, the chairman. Nigel Beattie, its chief operating officer, is also leaving, according to several people with direct knowledge of the matter.
Mr Slone had spent virtually his entire career at CLSA, having started there in 1988. The departures are a sign of growing cultural clashes between a western-style investment banking culture and a state-owned financial conglomerate.
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