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June 8, 2022

Credit Suisse names new head for APAC asset management unit

Credit Suisse has named Min Huang as the head of its asset management business in the Asia Pacific, Reuters reported citing an internal memo sent to employees.

Huang was appointed as the Swiss bank’s interim head for APAC asset management in November last year.

Having joined Credit Suisse in 2006, Huang has served in several key positions across the bank’s investment bank and asset management divisions.

She was serving as the head of the bank’s asset management unit in China since 2014 and was responsible for establishing its China onshore footprint.

In her new role, Huang will continue to work under Credit Suisse Asset Management CEO Ulrich Körner.

She will be part of the bank’s asset management and APAC management committees, according to the memo.

Recent developments at Credit Suisse

Last week, a report by Bloomberg News said that Credit Suisse is setting up a global financing group to oversee lending to wealthy clients across multiple sectors and regions as part of its effort to streamline risk management and collaboration across the bank.

Last month, Reuters reported that the bank is seeking to strengthen its capital base after a series of losses exhausted its financial buffers.

The same month, Credit Suisse said it froze around $10.63bn of client assets in Q1 2022 after Russia was hit by sanctions by the US and its allies over its military attack on Ukraine.  

Credit Suisse posted a net loss of CHF273m for the first quarter of 2022, driven primarily by legal expenses and the fallout from the Russia-Ukraine war.

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