Huang Guobin resigns from Goldman Sachs

Huang Guobin resigned as head of the China Industrials Group for Goldman Sachs in Houston on Friday, China Daily has confirmed.

Where Huang is heading is unknown so far.

He joined the firm in 2011 and had been selected as a future leader of Goldman Sachs' emerging markets, according to insiders.

He has been recognized for his involvement in major transactions involving such heavyweights as COFCO, Sinopec, China Merchants Bank, Dongfeng Auto, Citic Bank and Zoomlion.

More recently he has been in charge of IPOs and transactions of China Railway Signal, Haier, Fuyao Glass, Midea, CNR, Conch Venture, China Grand Auto and Yibai Pharma.

Prior to joining Goldman Sachs, Huang was a senior managing director of China International Capital Corporation (CICC) where he worked for 10 years. He was a member of the management of CICC investment banking and used to be head of human resources and business development committee of CICC. He also took responsibility as head of CICC European investment banking. Huang was the driving force for CICC to explore banking businesses in financial institutions, healthcare, auto among others.

Huang's departure is the most recent case of China's regional directors resigning from foreign investment banks.

Earlier this year, Cai Hongping, chairman of investment banking of Deutsche Bank for the Asia region announced that he would leave Deutsche Bank and start up an investment business.