BEIJING—China International Capital Corp.'s chief economist plans to leave the investment bank to become a managing director at Goldman Sachs Group Inc., according to people familiar with the matter.




Ha Jiming, whose most recent research notes have focused on economic growth in western China and developments in the Chinese labor market, is due to start at Goldman Sachs' investment banking division in October, the people said.
The move marks the latest shuffling of ranks in Asian investment banking as both Western and locals firms seek people with experience and local contacts, especially in China. In recent days, Deutsche Bank AG appointed Henry Cai as its new corporate finance chairman in Asia, after he left his job as investment-banking chairman for Asia at UBS AG.
Goldman Sachs lost a top China dealmaker when Fred Hu, its greater China chairman, left earlier this year.
For non-Chinese investment banks, China remains a challenging market. The top five revenue generators across all classes of investment banking in the first half of 2010 were each Chinese firms, data from Dealogic show, with Ping An Securities and Citic Securities leading the way.

Through joint ventures, some foreign investment banks have started to make some headway, however. Goldman placed seventh in Dealogic's first-half tables, compared with CICC's No. 6 finish. Both banks were recently among the bookrunners for Agricultural Bank of China Ltd.'s $19.2 billion initial public offering.

Mr. Ha is beating the opposite path from Hong Liang, the investment bank's former senior China economist. She left Goldman Sachs in 2008 to join CICC as an investment banker.

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