CLSA chief executive resigns on heels of chairman's exit

HONG KONG (REUTERS) - The chief executive of CLSA Ltd, the offshore broker owned by Chinese investment bank CITIC Securities Co Ltd, has resigned, a spokeswoman for the firm said on Wednesday (March 20), the latest top brass to exit the company.

Jonathan Slone's departure comes just two weeks after CLSA Chairman Tang Zhenyi left the Asia-focused broker, which was bought by citic Securities in 2013. The CLSA spokeswoman declined to disclose the reason for Slone's resignation.

Slone joined CLSA in 1988 as regional research director, and oversaw CLSA's global operations in broking, investment banking, asset management, research and sales. He also led the firm's overseas expansion and set up its U.S. operations in 1991.

The company, founded in 1986 by former journalists Jim Walker and Gary Coull, returned to its CLSA branding in 2017, dropping the name Citic CLSA, though it continued to operate as the international arm of Citic Securities.