Credit Suisse has appointed Janice Hu as China CEO as part of its strategy to accelerate the planned expansion of its franchise and presence in mainland China.
The appointment is with immediate effect.
In her new role, Hu will continue to drive our onshore business and regulatory activities with the objective to further expand Credit Suisse’s footprint in the region.
She will also focus on setting up a comprehensive platform and improve the company’s position.
Hu will work closely with Credit Suisse’s team in Asia Pacific and Greater China to capitalise on collaboration opportunities.
Hu replaces Zhenyi Tang, who is departing the firm to pursue other opportunities outside the financial services sector.
Credit Suisse Greater China CEO Carsten Stoehr said: “China is a strategically important market for Credit Suisse, both in the Asia Pacific region and globally. We firmly believe in the long term prospects for China with its continued liberalisation, and are committed to investing in this important market.
“Our aim is to bring the best of Credit Suisse’s integrated advisory services and solutions to clients in China, leveraging our global platform and our position as a leading global wealth manager with strong investment banking capabilities.”
Hu has over 25 years of experience in the financial markets in China.
Having worked at Credit Suisse for two decades, she has held several senior roles in the China franchise.
This includes roles such as vice chairwoman of Credit Suisse China and head of China Investment Banking.
Last week, Credit Suisse renamed its China securities joint venture as Credit Suisse Securities (China) as part of the bank’s ongoing build-out in the region.
The firm hired more than 60 professionals in mainland China over the last year.