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JPMorgan Hong Kong risk chief decamps to state-owned bank

Moving to a state-owned bank after a decade and a half at JPMorgan might seem like an interesting career move, but when you’re a top risk guy, you’ve probably run the numbers well enough to take the plunge.

Eddie Choi has quietly left JPMorgan after nearly 17 years with the bank in Hong Kong. He was made Chief Risk Officer for JPMorgan’s presence in the city just last year, replacing Laura Cumming, who moved to New York to be global head of principal risk. A few months ago, it seems that Choi headed over to CICC, the partially-state-owned Chinese investment bank, to be its head of risk, as well as a managing director.

Choi's exit from JPMorgan comes as the bank has shown signs of pulling back and running ECM at least from EMEA. It also comes as Chinese president Xi Jinping has been pushing China's state owned banks to cut pay as part of the common prosperity drive.

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AUTHORZeno Toulon
  • an
    7 September 2023

    If state-owned banks are cutting pay, there is no reason for Choi to move there.

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