Credit Suisse announced that it has appointed Janice Hu as CEO of China, as the bank continues to expand its franchise and presence in mainland China. The appointment is with immediate effect.
Janice Hu succeeds Zhenyi Tang, who is leaving Credit Suisse to pursue other opportunities outside the financial services sector.
Carsten Stoehr, CEO of Greater China at Credit Suisse, 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 liberalization, 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.”
As part of the next phase of our strategy, Hu, in her new role as CEO of China, will continue to drive our onshore business and regulatory activities with the objectives to further increase our presence, set up a comprehensive platform, and enhance Credit Suisse’s position. She will work closely with Credit Suisse’s leadership team across Asia Pacific and Greater China to capitalize on collaboration opportunities.
Hu has an outstanding professional track-record, with over 25 years of experience in the financial markets in China. During her 20-year tenure at Credit Suisse, she has held various senior roles across our China franchise, including Vice Chairwoman of Credit Suisse China and Head of China Investment Banking. In her capacity as Vice Chairwoman of China, Hu was instrumental in Credit Suisse becoming a majority shareholder of our China securities joint venture in June 2020.
Last week, Credit Suisse renamed its China securities joint venture as Credit Suisse Securities (China) Limited, marking another major step in the bank’s ongoing build-out of its China franchise. Over the past year in mainland China, Credit Suisse has recruited more than 60 professionals across all businesses and corporate functions.
