China dealmakers leave Wall St for upstarts

Hong Kong

VETERAN China dealmakers at Wall Street banks and Western buyout firms are heading for the exits, in search of the more lucrative merger and acquisition (M&A) deals and higher remuneration offered by smaller funds.

Three senior merger advisory bankers from Goldman Sachs Group Inc, Bank of America Corp (BOA) and Lazard have resigned within the last month for senior roles at fledgling investment funds, according to people familiar with their departures, who asked not to be identified.