Haitong Securities Co., Ltd. (HTNGF)

Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head

Chinese brokerage Haitong Securities removed Lin Yong from chief executive of its Hong Kong-based offshore unit, according to an internal memo and a company source with knowledge of the matter. Lin, who had been Haitong International Securities' CEO in Hong Kong since 2007, was removed from the top post, according to the memo reviewed by Reuters. He is one of the longest-serving helmsman at any Chinese investment bank in Hong Kong, leading the offshore unit to become one of the banks that issued the most offshore high yield bonds of Chinese companies in the last decade.