According to an internal memo Credit Suisse has hired a former Royal Bank of Scotland banker to take on the role of Head of Private Banking, China Onshore.
Credit Suisse has hired former RBS banker Rick Meng as head of China onshore private banking, according to an internal memo released on Tuesday and seen by finews.asia.
The hiring of Meng is part of Credit Suisse's strategy to further develop the China onshore wealth management business in the world's second-largest economy.
Long Experience
He possesses 17 years’ experience in the financial industry across China, Hong Kong and the U.S., and deep relationships with Chinese corporates. He was most recently Head of Corporate Coverage China and Shanghai Branch Manager for the Royal Bank of Scotland.
Rick Meng will be based in Shanghai and report functionally to Francois Monnet, Head of Private Banking, Greater China, and locally to David Liu, Shanghai Branch Manager.
Clear China Strategy
In this new role Meng will focus on building a wealth management team based in Shanghai, expanding the onshore client coverage and complementing the Private Banking Greater China franchise.
He will also work closely with the Greater China Investment Banking coverage team, to identify business opportunities and cater to the international investment and corporate needs of key ultra-high-net-worth and entrepreneur clients in China.
Earlier this month Credit Suisse Founder Securities (CSFS) the Beijing based joint venture established by Founder Securities and Credit Suisse in 2008 announced the launch of their onshore brokerage and the offering of a full suite of services.
