The chapter delves into the consequences of a new chairman's leadership style on a Chinese investment bank, with a focus on party values, talent retention issues, and the impact on employees' work ethic. The bank's struggle with declining stock prices, market share, and employee morale amidst a challenging business climate is highlighted, raising concerns about its future trajectory.
One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on The Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
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