Jefferies Hires JPMorgan Asia Health-Care Banker Wu

(Bloomberg) -- Jefferies Financial Group Inc. has hired Jun Wu from JPMorgan Chase & Co., where he was co-head of health care for Asia Pacific, according to people familiar with the matter.

Hong Kong-based Wu will lead Jefferies’s health-care coverage in Asia, said the people, who asked not to be identified because the details are private. He’s joining after the firm’s previous regional head for the sector, Jielun Zhu, left to become chief financial officer at I-Mab Biopharma Co.

Health-care coverage has become more vital for investments banks in the region after Hong Kong changed its listing rules this year to attract more offerings from early-stage biotech companies. Chinese drug developer I-Mab is among firms planing to raise capital through an initial public offering in the city, people familiar with the matter said earlier.

Alex Yuen, an executive director on JPMorgan’s equity capital markets team in Asia, is also joining Jefferies, the people said.

Representatives for JPMorgan and Jefferies declined to comment.

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