Credit Suisse is losing two senior Asia bankers after revealing job cuts last week. The moves come amid speculation that the Swiss bank's activities in Asia are suffering their second weak quarter in a row.
The Swiss bank cut a series of investment banking jobs recently in Hong Kong, Japan and Australia. Now, two executives are leaving the firm for rivals, «Bloomberg» reports.
Asia cash equities co-head Donald Lee, who is also the bank's head of client trading and execution in the region, is leaving. George Chow, co-head of investment banking and capital markets for China, is also departing to join a Chinese firm as a senior executive.
Weaker Asia?
The departure of the two senior bankers comes shortly after the bank let go roughly six equities bankers in Hong Kong and Tokyo. The cuts come amid speculation that Credit Suisse's business in Asia has continued to weaken in the first quarter, as finews.asia reported.
Zeth Hung assumes the role of sole investment banking and capital markets for China as a result of Chow's exit, Bloomberg reported.
