Wang Dongming studied Japanese investment banks in the 1980s and concluded that they resisted hiring foreign talent and thus never truly internationalized. To help Citic become a global player, chairman Wang, 58, is systematically recruiting foreign bankers to transform the culture of China’s largest investment bank.

Perhaps not surprisingly, Citic is showing strong results in Asian league tables. Wang is also considering listing Citic outside China. Earlier this year he formed a joint venture with U.S. investment bank Evercore Partners.