When you have your foot on the neck of your enemy, keep pressing.
The adage sprang to mind when a frothy press release pinged into Euromoney’s inbox. It was from CLSA, a once proudly independent Hong Kong brokerage now run by China’s Citic Securities, which has shed staff at an alarming rate during the past year.
Clearly in fighting mode, CLSA seemed keen to put its annus horribilis, during which it lost long-time CEO Jonathan Slone, chairman Tang Zhenyi and star analyst Chris Wood, in the past.
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