Former Vanguard Asia Head Joins Citic Securities

What’s new: Charles Lin, former Asia head of American money manager Vanguard Group Inc., has joined Citic Securities Co. Ltd. as a vice chairman of its Hong Kong subsidiary, CLSA Ltd., multiple sources familiar with the matter told Caixin.

Lin is taking a leading role in Citic Securities’ overseas strategy and operations, the sources said.

What’s the background: Caixin learned in January that Lin had left Vanguard after leading its expansion across Asia.

Hong Kong-based brokerage CLSA is a wholly-owned subsidiary of Citic Securities, a major Chinese investment bank and a unit of state-owned Citic Group Corp. Ltd. In 2013, Citic Securities completed its acquisition of CLSA as part of its global expansion.

Lin was appointed as Vanguard’s Asia head in October 2018, according to his LinkedIn profile. He joined Vanguard in September 2011 and was made Greater China chief in July 2014.

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Contact reporter Timmy Shen (hongmingshen@caixin.com)