Goldman Sachs has hired Thomas Deng as its new head of China research, poaching him from Credit Suisse First Boston where he covered China financials and conglomerates.
The move represents yet another incremental strengthening of Goldman's China team, adding to12 dedicated analysts and several sector analysts with China input. "We'll continue to roll out coverage of China shares in the coming months," promises Paul Bernard, MD and co-head of Pan Asia research.
Goldman has adopted a low-key attitude to strengthening its China research team, say specialists, preferring in most cases to hire fresh MBA graduates or to use its own bankers wishing to move into research, rather than to engage in high-profile and expensive poaching.
Deng worked at CSFB for three years and BNP Paribas for four years covering China's financial, technology and transportation stocks. Prior to this, he was a derivatives, forex and treasury expert at Calyon.
He has two Masters degrees, one in economics and the other in statistics, from the University of Utah, where he was also a PH.D candidate. His undergraduate degree was completed at the University of Wuhan in China's Hubei province.