At least half a dozen private bankers have reportedly left Credit Suisse’s wealth division in Hong Kong amid ongoing restructuring following the UBS takeover.
At least six bankers have left Credit Suisse’s Hong Kong wealth management division, according to a «Bloomberg» report citing unnamed sources. They include China market group head Martin Loh and Greater China team leader Joe Lau.
Loh has been with Credit Suisse since 2008 and took on an expanded role to oversee the Shanghai branch as part of the bank’s post-takeover restructuring. He previously also worked at UBS for seven years. Lau joined Credit Suisse 16 years ago.
Last week, the leadership structure for the third most senior layer was announced with market team heads named across Asia. Some roles have shrunken while others were eliminated altogether. Overall, UBS plans to retain a few hundred relationship managers from Credit Suisse and maintain total headcount of over 1,200 in the region.
