CitigroupÆs China investment banking splurge has continued to gain momentum, with the worldÆs largest financial firm announcing that Sheng Wu and Yehong Ji will join the firm. Once again, both new hires will cross over from Morgan Stanley and will represent the latest round of inter-bank poaching between the two organisations.

Both bankers will report directly to Mark Renton, acting head of China investment banking and head of Asian investment banking.

Wu arrives at Citi as a director in its China investment banking team and will be based in the Hong Kong offices. At Morgan Stanley, Wu spent nine years at Morgan Stanley and most recently held the title of vice president, China investment banking team.

Also joining from Morgan Stanley, Ji comes to Citi as vice president in the China investment banking team. At his former employers, which he joined in 2005, Ji was a vice president in its institutional equity division. He will perform his new position from CitigroupÆs Beijing offices.

The two new recruits to CitigroupÆs expanding China investment banking team is the latest stanza in what is becoming a genuine hiring binge. In March, Jing Zhao joined the firm from Morgan Stanley as managing director in CitiÆs China investment banking team.

In turn, CitiÆs raid on Morgan StanleyÆs China investment banking team comes after the latter poached Kai Yang from Citigroup. The swapping between the banks was seemingly set in motion after Morgan StanleyÆs high profile hire of Wei Christianson to lead its China business in January. She previously served as Citi's chairman of China for global markets (Asia).