Goldman Sachs said on Tuesday it had rehired veteran banker Mark Schwartz in the role of chairman of its Asia-Pacific unit, based in Beijing, becoming the first global investment bank to place its sole regional chairman in China's capital.

Schwartz's placement in Beijing - rather than Hong Kong where peers from other big banks sit - puts him in a position to oversee the bank's joint venture in the city, Goldman Sachs Gao Hua, and have quick access to leaders of some of the world's largest companies.

Schwartz, 57, first hired by Goldman 33 years ago and a former adviser to George Soros, will replace Michael Evans, who has served as chairman of the Asia-Pacific unit since 2004.

Evans is based in New York and will continue in his role as a vice-chairman of the bank and global head of growth markets.

Agencies - China Daily