Credit Suisse Renames China Securities Joint Venture
Credit Suisse yesterday announced that it has renamed its China securities joint venture as Credit Suisse Securities (China) Limited (CSS). Credit Suisse became a majority shareholder in the securities joint venture in June 2020, following the completion of a capital injection.
Helman Sitohang, CEO of Asia Pacific at Credit Suisse, said: "China represents significant opportunities for Credit Suisse and is very important to our global and regional strategy. We will continue to invest in our presence in China to best serve our clients amid the liberalization of the local financial services market."
Carsten Stoehr, CEO of Greater China at Credit Suisse, said: "The rebranding of our securities joint venture represents an important milestone in the continued commitment to our China franchise. Our future expansion will focus on further broadening our presence and capabilities as we position Credit Suisse to become the leading international wealth manager in China with strong investment banking capabilities."
Since Credit Suisse's acquisition of a 51% stake in the securities joint venture last June, more than 60 professionals have been recruited to join the joint venture across all businesses and corporate functions.
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