By Mars Woo
The workforce reduction comes three months after Eastspring Investments announced the appointment of Wai-Kwong Seck as its new CEO.
Asia has become the main battleground for global wealth managers, including Credit Suisse, HSBC and Standard Chartered.
Tsang, a Hong Kong-based managing director for the Swiss bank, is replacing Randy Gelber, who is leaving to pursue other opportunities.
Singapore-headquartered investment group Capital C Corporation has named Benny Lim as its chief operating officer based in the country.
Banks, which will get 114 million new shares in the company, will provide the carrier with an immediate funding of as much as 15 billion rupees ($218 million) in debt.
UK fintech firm Revolut has appointed Eddie Lee, a former Uber executive, to head its Asia Pacific office in Singapore.
Sequoia Capital China founder and managing partner Neil Shen Nanpeng and Hillhouse Capital CEO Zhang Lei are among the candidates for the consultative committee that would decide which companies could list on the upcoming Nasdaq-style technology board in Shanghai.
Jett joined SoftBank four years ago, leading and managing global investments in consumer internet and e-commerce companies.
B Capital’s other partners are Saverin, Raj Ganguly, Gavin Teo, Kabir Narang, Allen Duan, and Virginia Schmitt.
The move followed a drop of about 60% in CLSA’s 2018 bonus pool and a number of other recent changes instigated by Citic, including staff adjustments and an overhaul of CLSA’s compensation structure.