Credit Suisse moved quickly to plug the gap in its Chinese investment banking unit, after a key banker departed.
The Swiss bank named Zeth Hung as co-head of investment banking and capital markets for Asia and Carsten Stoehr as CEO for greater China, in a press release.
The appointments of Hung and Stoehr follow the departure of Mervyn Chow, who is leaving Credit Suisse to pursue other, undisclosed opportunities. Chow is a rainmaker who played a key role in the Swiss firm's Chinese business push and had run its business in the country for the past year.
Hung, who joined Credit Suisse in 1998 and is based in Hong Kong, was formerly head of investment banking and capital markets for greater China. In his new role, he will work closely with Edwin Low, his fellow co-head who is based in Singapore. Stoehr will add the China role to his existing job as head of financing in the wider region. He also oversees the Swiss bank's two key Hong Kong entities.
