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Morgan Stanley veteran joins Goldman; UBS leads fee table
Everyone knows everybody in Hong Kong's banking firmament. So any time a bank can poach a senior member of staff or a team from a rival firm, it immediately becomes the talk of the financial town.
This was the case last month when Kate Richdale, head of investment banking for Asia Pacific at Morgan Stanley, left the bank after 13 years to join historical rival number one Goldman Sachs.
Richdale joins Goldman as head of investment banking services for Asia ex-Japan and will take responsibility for client coverage in the region.
Gossip about what the move meant was plentiful in the restaurants and bars of the special administrative region.
Kate Richdale, head of investment banking for Asia Pacific at Morgan Stanley, left the bank after 13 years to join historical rival number one Goldman SachsWas it the culmination of years of tension between Richdale and Wei Christianson, the co-chief executive officer at Morgan Stanley in Asia with whom she had endured a reportedly fraught relationship?
Does Richdale's move say anything about the relative fortunes of the two banks in the recent past or their prospects for the future? Will it affect Morgan Stanley's relationship with Temasek - the...