CICC loses talent as KKR, TPG deal nears
The $1 billion-plus sale of Morgan Stanley's 34.3% stake in leading PRC i-bank China International Capital Corp (CICC) to Kohlberg Kravis Roberts & Co. and TPG Capital appears to be coinciding with a talent flight from the bank, as the bank moves to allow employees to realize the value of their stakes.
The exits follow CICC's decision to pay key people for the equity stakes they had previously received when the bank was considering a possible public listing, amounting to up to 20% of the value of the...
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