In doing the rounds of Ulaanbaatar, it doesn’t take long to encounter someone who used to work at the Mongolian Stock Exchange. Former MSE staff seem to be deposited most everywhere across the narrow universe that is Corporate Mongolia; at its handful of banks, its few private equity firms, the central bank and the state-owned mining houses. With five chief executives and myriad board members since 2010, the MSE is virtually a local version of LinkedIn, a transit lounge of talent.

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