Another Credit Suisse veteran is leaving the embattled Swiss lender to pursue opportunities elsewhere.
After 25 years of service, Zeth Hung is leaving Credit Suisse, according to an internal memo seen by finews.asia. He will step down from his current role as the vice chairman of APAC investment banking & capital markets (IBCM).
He joined Credit Suisse in 1998 from BZW and has been a key part of the Swiss lender’s business evolution in Greater China and APAC, particularly about partnerships leveraging the «one bank» approach – a model whereby entrepreneurial clients are serviced by various parts of the financial group, including private and investment banking.
Luckin Coffee
Since becoming the co-head of APAC IBCM in January 2018, Hung has been instrumental in leading the regional investment banking business. He was a key banker for the Luckin Coffee relationship which in 2020 became embroiled in a scandal over fabricated revenue, as reported by «Bloomberg» (behind paywall).
The troubled Swiss financial lender has seen several departures of senior bankers in the past few months, including Greater China CEO Carsten Stoehr, and Asia wealth deputy head Jin Yee Young. And most recently Johanes Oeni, the market group head Indonesia and Malaysia also left the bank, as reported by finews.asia.
