Credit Suisse has completed the transaction to become a majority shareholder in its China securities joint venture, Credit Suisse Founder Securities. With the transaction completed, a veteran Credit Suisse banker has been appointed as chairwoman of the firm.
Credit Suisse has successfully closed the increase of its shareholding in Credit Suisse Founder Securities (CSFS) from 33.3 percent to 51 percent, according to a media release on Monday. In April this year, the China Securities Regulatory Commission granted the bank the approval to become a majority shareholder in CSFS.
The bank said it intends to continue to invest in this key market to bring its integrated capabilities and comprehensive range of client advisory and financial products to both domestic and international clients in China.
Onshore Strategy
In addition, Credit Suisse has appointed Janice Hu, vice chair, Credit Suisse China and CSFS board member, to chair CSFS and drive the bank's China onshore strategy and CSFS’s business plans.
A veteran investment banker with a strong track record as a client-focused, results-oriented leader, Hu is, according to further information, one of the most experienced China bankers in the industry and has been with Credit Suisse for almost two decades.
Focus on Entrepreneurs
She will be responsible for enhancing CSFS’ coverage efforts in China, with a particular focus on the bank’s most important entrepreneur and private sector corporate clients, as well as overseeing relationships with government agencies and regulators.
