Top China IPO Underwriter Guosen Doubles Staff at Hong Kong Arm

Guosen Securities Co., the top-ranked arranger of initial public offerings in China, has more than doubled the workforce at its Hong Kong unit this year as Chinese investment banks challenge Goldman Sachs Group Inc. and Morgan Stanley outside their home market.

Guosen Securities (HK) Financial Holdings Co. has about 200 employees, up from less than 100 at the end of last year, Chief Executive Officer Lu Xiao Ning said in a July 20 interview. The firm plans to add 500 square meters of office space to the 1,500 square meters it occupies at One Exchange Square and Li Po Chun Chambers in central Hong Kong, he said.