(Bloomberg) – Lida Ren, Morgan Stanley’s China real estate investment banker, has left the U.S. firm amid a decline in real estate transactions in the world’s second-largest economy.
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Mr. Ren, a Hong Kong-based managing director, recently left the bank, a Morgan Stanley spokeswoman said. She was a dealmaker responsible for real estate transactions in the Asia-Pacific region, with a focus on China.
Ren was promoted to managing director in 2021, according to a statement from the bank at the time. According to her LinkedIn profile, she has worked at a US bank since 2006.
China-related real estate transactions have totaled about $34 billion so far this year, on track to be the worst year in a decade, according to data compiled by Bloomberg. Now in its fourth year, China is grappling with a real estate debt crisis that has led to record defaults. The government is increasing pressure on banks to support struggling property developers.
Read more: As rescue progresses, Xi Jinping’s tolerance for property distress approaches its limits
Ren’s departure follows the recent departures of other senior bankers from Morgan Stanley, including Henry Tsai and Ren Chen, the investment banking team’s lead technology bankers, Bloomberg News reported. It is something.
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