Where the gold goes

Article | Wenhui Source | The February 2011 issue of the Journal of Excellence is becoming more and more of a mystery.　　One side is Morgan Stanley's refusal to leave, not to worry about, while the international capital giants are scrambling, regardless of the price, one side is the continuous departure of the industry elite, while the business is booming, one side is the industry Whampoa Military Academy, side is the huge scale of expanding.　　Where does CICC go in the future?　　Ding left Tintin gone, the adventure is still in.　　On December 31, 2010, CICC's managing director, Ding, said in a mass mailing to his colleagues that he had offered to resign from CICC.　　Ding is nicknamed Tintin inside Cicc, who is almost involved in all of CICC's history and is a key figure in CICC's equity transfer.　　Equity transfer has just settled, the key figure quietly departed, so coincidentally.　　Lenovo to the recent ha, the Bedouin widely, the gold veteran almost exhausted. Ding worked for the World Bank and the International Monetary Fund for 12 years in 1987-1999 as chief economist, Project and department head and chief representative.　　Ding was the general manager of Deutsche Bank in China in 1999-2002 and later worked for CICC, executive chairman of the Investment Banking Commission, head of investment banking and managing director, and responsible for the business and management of the CICC investment Banking department. For 2010 years, CICC's chief economist, Ha Jiming, has left the CICC exit storm.　　Subsequently, managing director Bedo's departure was widely concerned. He went to Goldman Sachs and Bedo back to JPMorgan Chase.　　Ding is gone now. Ding is a heavyweight within the CICC, a very low-key person, but no one knows, CICC all major transactions are almost all Ding fencing presided over, this year Ding more as the future of the construction of CICC "chief designer", whether to attract the elite, or expand the market and open up business, almost all Ding a person in chief,　　In particular, during the financial crisis, CICC's move to recruit Wall Street Chinese elites in the United States came from the hands of Ding. At the end of 2007, Ding began recruiting work at the Ritz-Carlton, near Wall Street in New York (R i t Z-carlton Hotel).　　More than 100 professionals have been invited to interview, most of them overseas Chinese.　　China's booming capital markets have brought many opportunities. Ding said CICC plans to recruit about 200 people by the end of the year and expand the team to 1000.　　Ding said that the company hopes to recruit more capable personnel to meet the risk management, product design, structural finance and even management positions of talent needs.　　Then Ding achieved the goal.　　In the project, Ding presided over a project, the last year's Agricultural Bank (601288.SH), Everbright Bank (601818.SH) and other large projects rely on Ding's credit. Ding go too clever, too early, too strange. Ding himself said he wanted to make a life transition. As to whetherEngaged in private placement, or continued investment banking, he said "it is possible".　　This is one of the most acceptable answers to CICC. "In any case, there have been a lot of adjustments to the personnel in many departments recently, but we are used to doing our own thing," he said.　　CICC insiders said.　　The senior figures of CICC: Bimingjian, Li Gang, Bedo, Ding, compared to the great fame of Ha, although, in fact, are the later, after leaving the gold where to go?　　Morgan Stanley let go of CICC no past trading cheer, nor the relief of the solution, as a "Chinese marriage", three years of separation, physically and mentally exhausted. Morgan Stanley will sell 10.3% of CICC shares to the private equity firm, TPG Capital, which will sell 10% of its shares to Kohlbergkravis Roberts & Co. (KKR), which sells 9% per cent of its shares to Singapore's sovereign wealth fund, and will sell 5% per cent of its shares to Big Oriental Holdings (great easternholdings LTD. )。 Greater Oriental Holdings is the overseas Chinese Bank (Oversea-chinesebanking Corp.　　) Holding insurance companies. Singapore Government Investment Corporation (S i n g a P o r e i n v e s T m e n tcorporation Pte Ltd.　　Has previously held a 7.35% per cent stake in CICC, which will make it the second largest shareholder of CICC.　　China sovereign wealth fund's investment company, Central Huijin Investment Co., Ltd. (Central Huijin Investment Co.) is CICC's largest shareholder, holding its 43.35% per cent stake.　　The smartest deals, the most Chinese, the best way to break up is to get what you want. Morgan Stanley will gain nearly 700 million dollars in pre-tax profits after a 1 billion dollar sale of CICC shares.　　The sale of CICC shares also paved the way for Morgan Stanley to set up a new joint venture bank in China to further expand its business in China.　　In the first place, if it were not for the financial crisis, Morgan Stanley was expected to haggle over the decimal point of the amount.　　The financial crisis allowed CICC and Morgan Stanley's negotiations to "change the world". The Federal Reserve has disclosed details of billions of dollars of loans made available to financial institutions, companies and overseas central banks during the financial crisis, reserve. The document disclosed information on more than 21,000 transactions conducted between December 2007 and July 2010. According to the data, Goldman Sachs used the Fed's first-tier dealer credit arrangements during the financial crisis (Primary Dealer facility, PDCF) Total 84 times.　　During the period from March 2008 to March 2009, Morgan Stanley used the Federal Reserve's PDCF to borrow a total of 212 times, suggesting that Wall Street's second-largest investment bank was on the verge of collapse during the financial crisis.　　After months of visits to China by Berkshire Hathaway's Warren Buffett, Morgan Chase's Mr Dimon, KKR's Kravis and the Carlyle Group's Rubinstein, there has been a totally different view of the visits: they are seen as important steps to keep their companies growing. China is likely to become the world's second-largest economy in 2010, with Chinese companies totaling $104 billion trillion in global IPOs in 2010 and 54 billion in 2009. If the Hong Kong business is included, the total amount will reach $126 billion trillion last year, but it also covers the domestic market where foreign investors cannot fully participate. By contrast, U.S. IPOs in 2010 were less than $34 billion trillion, the second consecutive year that Chinese companies surpassed US companies in IPOs. Chinese companies reached 3,235 acquisitions in 2010, worth nearly $190 billion trillion, accounting for 9% of the world's total trading. This is more than any other country except the United States, and it exceeds the value of 162 billion of dollars traded by companies headquartered in the UK.　　China was also the second largest foreign takeover target in 2010, after the United States. Morgan Stanley is short of money and needs more opportunities for development, and China cannot give up the big market, but it seems hard to make a big wish to work with CICC.　　But will CICC continue to be "brilliant" without Morgan Stanley?　　Morgan Stanley is a ghost, and CICC seems fine. For Morgan Stanley, to sell so many investors, and none of the investment banks, is tantamount to no "tiger breeding", and even many market participants believe that this is to weaken the competitiveness of CICC, several investors, although seemingly investment giants, and have a large number of investment in China, but in the same ratio of CICC,　　The identity of the financial investor is more appropriately described, so the investment in the real work of CICC may not be as big as imagined. The other side is that the lack of gold is still a foreign link, although matched construction this year, but the results are very little. In this regard, its president, Zhu, said at an economist forum in New York that Chinese regulators recently approved JPMorgan Chase and Morgan Stanley's securities joint venture in China, signaling that the Chinese financial system could be further liberalized in the long run. Zhu has also repeatedly stressed that with the development of the domestic economy, Chinese institutional investors and other investors have some room to invest abroad. Seems CICC knows what it wants?