As the industry's top-ranked company, Citic Securities signed IPO deals worth a total of 50 billion yuan in 2023, up from 126 billion yuan in 2022 and 108 billion yuan in 2021
Citic Securities, China's top brokerage firm, has moved over 100 investment bankers from initial public offerings (IPO) to other departments as part of a major overhaul to address slowing business amid the stock market downturn.
Most of the affected employees were moved to debt financing operations, while the rest were moved to mergers and acquisitions and investment departments, a person familiar with the matter said.
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