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Apr. 21 (NBD) -- CITIC Securities Co. (06030.HK), China's leading securities company, hired Charles Lin, the former Asia head of Vanguard Group, to be vice chairman of CLSA, the Hong Kong-based international investment bank announced Monday.

CITIC Securities acquired CLSA in July 2013 for global expansion and became the first Chinese brokerage to purchase a global financial institution.

Last year, the Hong Kong unit saw a string of resignations of senior management, including its former chairman Tang Zhenyi, former CEO Jonathan Slone and former COO Nigel Beattie.

Lin now becomes the one who has taken the highest position amid the CLSA's management reshuffle. He has taken office and will be in charge of overseas strategies and operation, according to media reports.

It is noticed that Lin has 15 years experience in the financial industry. Prior to joining CLSA, Lin spent eight years at one of the world's largest investment banks Vanguard and notably, he is the one that pushed forward the cooperation of Vanguard and Alibaba.

2019 has witnessed the company continuing expanding its overseas merger and acquisition business. For example, it helped Shenzhen-listed nutrition supplements maker By-Health complete the acquisition of Australian probiotics firm Life-Space Group. The broker also assisted COFCO Property in acquiring the controlling stake in Joy City Property.

In recent years, CITIC Securities has established a vertical management mechanism and will continue integrate its domestic and overseas stockbroking businesses in 2020, said the company.

Lin has a deep understanding of the industry and is good at integrating resources, disclosed people with a Wall Street investment bank. But how and where this young entrepreneur will lead the CLSA remains to be seen.

Email: gaohan@nbd.com.cn