Boutique Investment Bank BDA Cuts Jobs in China on M&A Woes

BDA Partners has cut some investment bankers in Shanghai to cope with intensifying competition in China and uncertainty over deals, people familiar with the matter said, marking the latest financial services firm to retreat from the world’s second-biggest economy.

Five Shanghai-based investment bankers have been let go by the boutique firm, which focuses on mergers and acquisitions, and a couple have relocated to BDA’s Hong Kong office, the people said, asking not to be identified because the information is private. Three senior bankers are staying in Shanghai to work on existing mandates and originating new deals, the people said.

BDA ...