Credit Suisse: appoints CEO for China

(CercleFinance.com) - Credit Suisse said on Monday that it has appointed a new head for its operations in China, as the Swiss investment bank is becoming the majority shareholder of its Chinese joint venture.


The group announced the appointment of Zhenyi Tang, a former executive at the Chinese financial conglomerate CITIC and former chairman of Chinese broker giant CLSA, as CEO for China.

Prior to joining CITIC, Tang spent 17 years at the Ministry of Finance of the People's Republic of China.

In his new role, Tang will oversight the bank's onshore entities, reporting to Helman Sitohang, the CEO for Asia Pacific.

His appointment follows Credit Suisse's announcement in April of plans to increase its stake in its onshore securities joint venture to 51%.

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