Jefferies hires former CLSA president Slone as president of Asia

US investment bank Jefferies announced Monday that it had appointed Jonathan Slone, the former managing director of the beleaguered Asian securities firm CLSA, to the position of president for Asia.

Slone abruptly stepped down as CLSA chief in March, after three decades at the Hong Kong brokerage firm. This came amid signs of a growing cultural conflict between CLSA and its parent company, the Chinese government, Citic Securities.

In his new role at Jefferies, Slone will focus on managing Jefferies' major relationships in investment banking and trading across the region.

"The hiring of Jonathan represents a milestone in our continued expansion of our presence in Asia, with significant additions to our teams in Japan and Hong Kong, as well as the addition of research, sales and marketing. stock trading in Australia, "said Peter Forlenza, Jefferies' global leader of equities.

Slone is just one of the leaders of many profiles who have left CLEC in recent months, including former president Tang Zhenyi and chief operating officer Nigel Beatty. Mr. Tang recently joined Credit Suisse as Managing Director for China.

The path from CLSA to Jefferies seems to be becoming a borrowed path. In addition to Slone, Christopher Wood, former global leader of equity strategy at CLSA, and Desh Peramunetilleke, head of microstrategy, have both joined Jefferies in recent weeks.