By Yantoultra Ngui and Kane Wu

SINGAPORE, March 17 (Reuters) - JPMorgan Chase ( JPM )

has hired Yi Zhang from Goldman Sachs ( GS ) as co-head of China

investment banking, in the latest of a series of new hires to

strengthen its Asia banking business, according to an internal

memo on Tuesday reviewed by Reuters.

Zhang will join in the summer and will work alongside

Michelle Wang, who remains co-head of China investment banking,

the memo said.

A spokesperson for JPMorgan ( JPM ) confirmed the content of the

internal memo, adding the bank has made over a dozen investment

banking hires in the past year.

The moves come as a surge in initial public offerings in

Hong Kong and buoyant M&A activity in Japan and Australia have

pushed up demand for talent in the region.

Zhang most recently led China industrials coverage at

Goldman Sachs ( GS ) and brings 22 years of investment banking

experience, according to the memo.

Goldman Sachs ( GS ) declined to comment.Zhang did not immediately

respond to a request for comment via LinkedIn.

JPMorgan's ( JPM ) current co-head of China investment banking,

David Lau, will take on a broader regional role as vice chair of

investment banking for Asia Pacific, the memo said.

Lau will lead coverage for some of bank's key Hong

Kong-based clients, deepen ties with Hong Kong regulators and

continue to oversee the bank's Asia Pacific healthcare practice,

the memo said.

In December, JPMorgan ( JPM ) hired Yu Chikami, another former

Goldman alumnus, to be its Japan co-head of investment banking.

Senior recruits in 2025 also included Jane Wu, whom the bank

hired as head of China healthcare investment banking, and Dragi

Ristevski, whom it poached from Macquarie to be co-head of

general industrials and head of financial sponsors for Australia

and New Zealand.

Wall Street banks including Morgan Stanley and Citi have all

made hires to cope with the increasingly demanding deal flow.

Reuters reported in August 2025 that JPMorgan ( JPM ) had hired more

than 300 bankers between January and April across its global

banking unit.