CLSA’s Slone Said to Resign After Bonus Cuts, Citic Changes (2)

Jonathan Slone has resigned as chief executive officer of CLSA Ltd. after the securities firm’s state-owned Chinese parent moved to tighten its grip on the business, according to people familiar with the matter.

Slone, who was CLSA’s CEO for a decade and oversaw its acquisition by Citic Securities Co. in 2013, tendered his resignation in late February, the people said, asking not to be identified because the matter is private. The move followed a drop of about 60 percent in CLSA’s 2018 bonus pool and a number of other recent changes instigated by Citic, including staff adjustments and an overhaul ...