The art of leaving an investment bank in Hong Kong



ORIGINAL POST
Posted by Ed 12 days ago
You know you’ve done a good job if they send you a goodbye memo with ‘thank you’ in the subject line when you leave.
 
That happened to Jonathan Slone, who's standing down as chairman of Jefferies’ Asia business in Hong Kong after less than three years. Like all good junior bankers below him, Slone is leaving for private equity - except he's setting up his own private equity fund rather than joining someone else's.
 
He goes with the full blessings of his bosses. “Please join us in wishing Jonathan well on his next venture and his continued success,” said Rich Handler and Brian Friedman in a memo seen by eFinancialCareers. To further underline just what a good leaver Slone is, Jefferies also says it will also consider investing alongside Slone, who's not fully leaving but has been handed the title of senior adviser to the firm.
 
Slone only joined Jefferies from CLSA in 2019 as chair of the bank’s Asia business, but his job title was less important than the move itself. He proved something of a talent magnet: Jefferies used him to draw around 50 bankers and traders from CLSA, providing a springboard for the firm’s growth.
 
“Jonathan was integral in bringing everyone together, for which we are most grateful. In just three years, we have seen meaningful revenue and market share growth in our core markets across Asia-Pacific,” the memo also gushes. The bank turned in record revenues in Asia Pacific in 2020, driven by a strong performance in cash equities.
 
Jefferies has a top-ranked Convertible Bonds franchise, and has bolstered its trading operations in Hong Kong while its research business covers more than 800 companies in the Asia Pacific region. Jefferies said it also has “one of the top Healthcare Investment Banking franchises in the region and are quickly gaining share in Technology, Consumer and Industrials.”
 
 
https://www.efinancialcareers.com/news/2021/11/leaving-investment-bank-hong-kong 

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