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HONG KONG Feb 10 UBS AG has suspended two Hong Kong-based bankers as part of an investigation over the hiring of an employee related to a Chinese corporate client, IFR reported on Monday, citing two sources familiar with the situation.
Joseph Chee, head of capital market solutions, and Sharlyn Wu were put on leave last week, added IFR, a Thomson Reuters publication. The decision to put the bankers on leave came after an investigation over the hiring of Joyce Wei, the daughter of the chairman of Tianhe Chemicals.
Tianhe is looking to float in Hong Kong later this year in a deal that could raise as much as $1 billion, with UBS among the banks in the running for a senior role on that transaction, IFR reported.
UBS declined to comment. Chee did not respond to a call to his mobile phone. Wu could not be reached.
(Reporting by Fiona Lau; Writing by Elzio Barreto; Editing by Michael Flaherty and Matt Driskill)