Biz Scene: BIZ MOVE

ASB president

Alcatel Shanghai Bell (ASB) said it had appointed Frdric Rose (right) as the company's president to replace Gerard Dega, who has decided to retire after leading the company for three years. Rose will continue to be the executive vice-president of Alcatel-Lucent as well as president of its Asia-Pacific operations.

ASB is a joint venture between Alcatel and the Chinese government. Alcatel, which completed a merger with Lucent on November 30, owns more that a 50 percent share in ASB. Rose was a partner at Repton Group and Marks & Murase in the United States before he joined Alcatel in 1993.

New bank head

JP Morgan Chase & Co is transferring a senior London-based banker to Beijing, where it just received regulatory approval to establish a locally incorporated bank.

Peter Lighte, who heads treasury and security services for international clients, will take up his post at JP Morgan's Beijing office in mid-August, the Asian Wall Street Journal reported. Lighte, a fluent Mandarin speaker, is expected to head up the locally incorporated bank and run treasury and security services, which include acting as an agent on bond payments and document management in structured finance.

(China Daily 07/25/2007 page15)