Credit Suisse named a new chief executive for China, replacing Zhenyi Tang who left to pursue opportunities outside the financial industry.
Jance Hu was appointed CEO of China, according to a statement, with responsibilities to drive the bank’s onshore business and regulatory activities.
Hu has 25 years of experience in the financial sector including 20 years with Credit Suisse where she held various senior roles including China vice chairwoman and head of China investment banking. Last year, Hu was named chair of the China securities unit in which she was «instrumental» during the bank’s process of becoming a majority shareholder.
China Franchise
Credit Suisse renamed its China securities joint venture last week to Credit Suisse Securities (China) Limited – a move it described as «another major step in the bank’s ongoing build-out of its China franchise».
Credit Suisse has also recruited over 60 staff across business and corporate functions in mainland China.
«China is a strategically important market for Credit Suisse, both in the Asia Pacific region and globally,» said Greater China CEO Carsten Stoehr. «We firmly believe in the long-term prospects for China with its continued liberalization, and are committed to investing in this important market.»
