The Greater China chief executive of Credit Suisse will leave the bank later this week after 25 years with the Swiss major.
Carsten Stoehr will leave Credit Suisse on December 15 this week, according to an internal memo seen by finews.asia. Stoehr will step down from his current roles as Greater China CEO as well as board chair for Credit Suisse (Hong Kong) and Credit Suisse Securities (Hong Kong).
Stoehr has spent 25 years with Credit Suisse, having first joined the Swiss bank in 1994. After holding various management positions, he would move on to Standard Chartered Hong Kong to lead global financial market sales before rejoining Credit Suisse in 2016.
Global Job Cuts
Meanwhile, Credit Suisse is undergoing a global exercise to reduce 9,000 positions by 2025, including 2,700 job cuts scheduled for the fourth quarter of 2022.
«A dedicated manager and mentor, he has consistently nurtured and supported the growth and creativity of his colleagues,» said APAC CEO Edwin Low in the memo. «Please join me in thanking [Stoehr] for his leadership and contributions throughout his tenure at Credit Suisse and wishing him every success in the future.»
A spokesperson for the bank declined to comment.
