Credit Suisse has hired a new head of private banking for Japan, one of the Swiss bank's priority markets in the region. It is the latest in a string of successful hires from rival UBS.
Tsuneaki Hirao joins Credit Suisse as Managing Director and head of private banking for Japan based in its Roppongi office in Tokyo, the bank said in a note to finews.asia.
Credit Suisse has hired Hirao away from UBS, where he worked for more than 10 years, most recently as head of that bank's ultra-high net worth business for Japan.
Poaching from UBS
Hirao is the latest in a string of successful hires from its larger Swiss rival UBS, including Dagmar Maria Kamber Borens, who will become operating chief of Credit Suisse's Swiss bank, and more recently, Patricia Enslow, as finews.asia reported exclusively.
Hirao will report functionally to Alex Wade, Head of Developed and Emerging Asia, Private Banking Asia Pacific, and locally to Martin Keeble, CEO Japan.
Japan Push
Prior to UBS, Hirao worked for Citi Private Bank as a managing director and market head for its Tokyo branch.
In 2011 Credit Suisse made a push to increase earnings from its core private banking operations in Japan, buying a Japanese wealth division from HSBC who were exiting the market.
