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Daily Dispatches: Leading J.P. Morgan banker quits the sector

J.P. Morgan’s chairman of equity capital markets in Asia-Pacific, Kester Ng, is quitting after seven years at the US firm and almost 20 years in investment banking. But Ng hasn’t been poached by a rival; he’s given up on banking although and is reported to be devoting his time to a “life-style-focused real estate business”.

Ng, who is based in Hong Kong, has not revealed the reasons for the move, although it comes as banks in Asia have faced 12 to 18 months of falling fees in ECM. Although Ng is more experienced than many other career-change bankers, he is certainly not alone in wanting out.

In the wake of the financial crisis, plenty of bankers have shifted to sectors like education and technology or set up their own businesses. Bankers in Asia have also turned to teaching yoga and Pilates.

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