New York advisers heading east

Citigroup Inc. is losing its chief global equity strategist in New York, Ajay Kapur, who is moving back to Hong Kong to launch a hedge fund, according to published reports.
Niall MacLeod, another global strategist at Citigroup, and two other members of Mr. Kapur’s team there will also join him at the new venture, First Horse Capital, reports said.
Robert Buckland will replace Mr. Kapur, who became chief equity strategist in 2004.
The move is another example of New York advisers heading east, where markets have outpaced Europe and North America.
It was also reported this week that JPMorgan Chase & Co.’s co head of China investment banking, Meng Liang, left to join D.E. Shaw Group.
Mr. Meng is the third senior banker to exit JPMorgan’s Asia post this year for hedge or buyout funds.
Washington-based Darby Overseas Investments Ltd., the private equity arm of Franklin Resources Inc., announced the hiring of Sean Wallace as senior managing director.
He was JPMorgan’s head of capital markets for Asia-Pacific. Also, in January, Asia Pacific Chairman Ralph Parks joined Los Angeles-based buyout firm Oaktree Capital Management LLC.