Credit Suisse has made two senior appointments to its global markets division in Asia.
Ali Naqvi has been appointed executive chairman for global markets, Asia Pacific, while Ken Pang, currently head of global markets trading, Asia Pacific, will take on the role of overall head of global markets for the region, pending relevant regulatory approvals.
The bank said in a press release the appointments are part of Credit Suisse’s effort to transform its trading and investment banking arm into achieving a dominant position with its clients, whilst leveraging the bank’s global distribution and reach.
In his new role as the executive chairman of the unit in Asia, Naqvi will continue to actively focus on client engagement with a considerable number of strategic clients in global markets across the region.
Unified Global Markets Offering
The bank said he has been instrumental in leading the integration of the fixed income and equities businesses into a unified franchise in Asia Pacific.
Naqvi has held various senior positions over his 19-year career with the bank – most recently as the head of global markets and Asia and before that, as head of equities in the region between 2011 and 2016.
Pang, in his new role as head of global markets, will be responsible for transforming the business in the region, to further integrate into the wider bank.
China Strategically Important
Since he joined Credit Suisse in 2009, Pang has built an equities derivatives franchise for Credit Suisse in Asia Pacific, which has been consistently profitable and sustainable.
In order to further strengthen Credit Suisse’s derivatives business, the bank recently established the solutions group which combines equity derivatives and fixed income structuring into an integrated platform, and made several senior hires throughout 2016.
finews.asia reported last year on the expansion of Credit Suisse's equities franchise in China through the launch of its onshore A-share brokerage business via its joint venture, Credit Suisse Founder Securities. It is now among the first global banks to operate an onshore brokerage business in China.
