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...looked smart again when Chinese banks decided to clear their pile of nonperforming loans off the books as a first step to steadying the wobbly financial system. Anticipating a dealmaking frenzy, Chao and his team did their homework before potential buyers came knocking. A consortium led by the Morgan Stanley Real Estate Fund hired Chao and won the bidding on the first and biggest chunk, $1.3 billion in loans from Huarong Asset Management, in 2001. Such successes have made Chao fairly fearless. Last fall, during a staff retreat in Phoenix, Arizona, he led three lawyers from China on a three...

Author: /time Magazine | Title: Lawyer for Hire: Knows China Well | 3/21/2005 | See Source »

...Cornell, Wordsworth had suddenly lost its appeal. "I wanted to be involved," Zhu recalls. "I wanted to do something more useful than studying poetry written by a dead person." He took a leave from the doctorate program?never to return?shifted into law school and in 1995 joined Morgan Stanley as an investment banker. Since then, Zhu, 42, has made himself very, very useful to the Chinese economy. Morgan Stanley has raised $20 billion for Chinese companies, mainly through initial public offerings of stock, and Zhu has been involved in nearly all of them, including mobile-phone-service provider China...

Author: /time Magazine | Title: And for This He Read Poetry? | 3/21/2005 | See Source »

Jonathan Zhu, chief executive officer of Morgan Stanley China, calls himself an "accidental banker"?and for good reason. In the late 1980s, the Shanghai-born Zhu was studying the poetry of William Wordsworth in a Ph.D. program at New York's Cornell University. Wordsworth, he says, wrote his best work during the French Revolution, a period Zhu felt reflected his own experience in Mao's China. But in 1988, Zhu's life changed forever when he joined other Chinese studying abroad on a special tour of his home country, organized by the communist government. He met farmers and fishermen, visited...

Author: /time Magazine | Title: And for This He Read Poetry? | 3/21/2005 | See Source »

...Cornell, Wordsworth had suddenly lost its appeal. "I wanted to be involved," Zhu recalls. "I wanted to do something more useful than studying poetry written by a dead person." He took a leave from the doctorate program--never to return--shifted into law school and in 1995 joined Morgan Stanley as an investment banker. Since then, Zhu, 42, has made himself very, very useful to the Chinese economy. Morgan Stanley has raised $20 billion for Chinese companies, mainly through initial public offerings of stock, and Zhu has been involved in nearly all of them, including mobile-phone-service provider China...

Author: /time Magazine | Title: And for This He Read Poetry? | 3/20/2005 | See Source »

...smart again when Chinese banks decided to clear their pile of non-performing loans off the books as a first step to steadying the wobbly financial system. Anticipating a dealmaking frenzy, Chao and his team did their homework before potential buyers came knocking. A consortium led by the Morgan Stanley Real Estate Fund hired Chao and won the bidding on the first and biggest chunk, $1.3 billion in loans from Huarong Asset Management, in 2001. Such successes have made Chao fairly fearless. Last fall, during a staff retreat in Phoenix, Ariz., he led three lawyers from China on a three...

Author: /time Magazine | Title: Lawyer for Hire: Knows China Well | 3/20/2005 | See Source »

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