Analysis-Chinese finance professionals switch careers as industry crackdown dims prospects [Yahoo! Finance Canada]
CHINA MRCHNTS BK UNSP/ADR (CIHKY)
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Source: Yahoo! Finance Canada
By Samuel Shen and Selena Li HONG KONG (Reuters) - Disillusioned Chinese bankers and fund managers are giving up careers in a finance sector where government campaigns and regulation have coloured prospects to the extent that areas as varied as education and even stand-up comedy seem preferable. Tightening scrutiny of trading, financing and dealmaking as well as a slump in stock turnover in a sluggish economy has dried up private equity and venture capital and decimated the market for stock market listings, bringing pay and job cuts. After three years in a directionless capital market, Xu Yuhe, partner of Deep Water Fund Management, switched to the more predictable business of helping students study overseas. Economic stimulus pledges may have sent the stock market surging recently but investors are fickle so the bullishness is likely to be ephemeral, said the former hedge fund professional. "Educational services is a stickier business," said Xu, who aims to tap into "a gro
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