DE Shaw, the $20bn (€15.6bn) New York asset manager, has recruited the former co-head of JP Morgan's China investment banking business to lead its new Greater China private equity group.

Liang Meng formerly was a co-head for JP Morgan Securities' China investment banking business in the Asia Pacific region. He also worked at Credit Suisse in New York, where he focused on the media and telecommunications sectors within mergers and acquisitions.