Goldman hires first China partner

NEW YORK: Goldman Sachs Group Inc hired veteran dealmaker Wei Cai as co-head of its China investment banking business, making him a partner in a rare move as the firm seeks to capitalise on the nation’s financial-market opening. Previously at private equity firm FountainVest Partners Co, Cai will head the business alongside Zhu Hansong. A spokesman confirmed the appointment. Cai, who will be based in Hong Kong, is the first person to be hired by Goldman Sachs as a partner for its business in China.