Capturing HBCy2: Using N,O‐Chelated Complexes of Rhodium(I) and Iridium(I) for Chemoselective Hydroboration

1,3‐N,O‐chelated complexes of Rh^I and Ir^I cooperatively and reversibly stabilized the B?H bond of HBCy₂ to afford six‐membered metallaheterocycles (M=Rh ( 7 ) or Ir ( 8 )) having a δ‐M]???H‐B agostic interaction. Treatment of these Shimoi‐type borane adducts 7 or 8 with both an aldehyde and an alkene resulted in chemoselective aldehyde hydroboration and reformation of the 1,3‐N,O‐chelated starting material. The observed chemoselectivity is inverted from that of free HBCy₂, which is selective for alkene hydroboration.