HONG KONG, July 24 (Reuters) - JPMorgan Chase & Co has hired five industrial sector research analysts from rivals including Morgan Stanley, Nomura and UBS to bolster coverage of Chinese listed companies, according to an internal memo seen by Reuters.
Foreign banks have been expanding their China equities research coverage after the inclusion of China-listed shares in the U.S. index publisher MSCI’s emerging-markets benchmark this year, a milestone for global investing.
JPMorgan has hired Billy Feng from UBS as China technology analyst, Patrick Xu from Nomura as China industrial analyst, and Han Fu from Morgan Stanley as China basic material analyst, showed the memo.
A spokeswoman for JPMorgan in Hong Kong confirmed the content of the memo.
The Wall Street bank has also hired Qian Yao as China consumer analyst from securities firm Huatai Financial, and Lei Mu as China energy analyst from Chinese refining giant Sinopec Corp, the JPMorgan memo showed.
Reporting by Sumeet Chatterjee; Editing by Sunil Nair