Credit Suisse’s China chief executive Janice Hu shared plans to accelerate expansion in China following the obtainment of a majority stake in its securities joint venture last year.
Credit Suisse hired more than 120 people since gaining a majority stake in June 2020, according to a «Reuters» report citing Hu at a media roundtable.
The Swiss lender will look to accelerate expansion in the mainland by tripling the team size over the next five years.
It is also in talks to provide financing for internet firms unable to list in the short-term.
Regulatory Focus
In addition, Hu also highlighted a focus on regulations, especially with regards to cross-border data transfers – China recently introduced a Data Security Law that that requires classification governance of data storage and transferal.
«We are communicating with the regulator and our headquarters on a daily basis to achieve a plan that regulators can agree with and is feasible for us […] this is at the core of our work,» Hu said.
