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BANKING

Fang Fenglei and Fred Hu: one bank, two rainmakers

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Fang Fenglei, Goldman Sachs

Fang Fenglei: wields incredible clout

Ever keen to distance itself from the pack, Goldman Sachs boasts not one China rainmaker but two – Fang Fenglei and Fred Hu. On the face of it they couldn’t be more different. Hu, Goldman’s China head of investment banking, is the steadier of the two: white-collar and urbane, described by one colleague as "brilliant, intense, erudite, a model China banker with relations across the [financial institutions] sector". Fang, chairman of the bank’s landmark mainland securities partnership – Goldman Sachs Gao Hua (GSGH) – is the blue-collar banker with a common touch: mercurial, legendarily stubborn, a whirling dervish who clicks immediately with hard-bitten directors of state-run enterprises and privately owned corporations. Both are, in their own ways, hard to control, yet they head what is probably the best investment banking team in China today.