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Daily Dispatches: Goldman China chairman quits to set up PE fund

One of Goldman Sachs’ most senior China bankers has quit to follow in the footsteps of several former colleagues who left the group to establish mainland private equity funds. Fred Hu, the bank’s chairman of greater China, will retire as a partner next month after a 13-year career at Goldman. Hu plans to set up a private equity fund focused on Chinese deals, according to people familiar with the matter, and has contacted potential local and foreign investors in recent weeks. (Financial Times)

Shinsei Bank, the Japanese lender backed by US investor Christopher Flowers, may abandon its merger with Aozora Bank and instead raise 75 billion yen selling shares, said a person with direct knowledge of the matter. (Bloomberg)

Taiwan’s top financial regulator has set five conditions for a review of AIG’s sale of its Nan Shan insurance unit in the island. (938 Live)

Shares in London interdealer broker Tullett Prebon have soared after the company confirmed it had received an approach and speculation swirled as to the identity of the approaching company. British newspaper The Daily Mail reported the broker was in the sights of the Bank of China and Macquarie Group, but didn’t cite sources. (The Australian)

Macquarie Group, which made five North American acquisitions in 2009, may buy more US assets and add bankers servicing mid-sized companies to gain a larger slice of the world’s biggest investment-banking market. (Sydney Morning Herald)

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