One of the most senior China bankers at Goldman Sachs has resigned – the second mainland-based high-profile executive to relinquish full-time duties at the bank in recent weeks.

Richard Ong, co-head of Asia investment banking excluding Japan, has quit the Beijing post after a 15-year career to return to his native Malaysia to help run his family’s palm-oil-to-property business. Mr Ong, 42, will remain as an advisory director when he leaves Goldman in March.