Global investment bank and financial services firm Credit Suisse Group AG announced the appointment of Janice Hu as the Chief Executive Officer of Credit Suisse, China on July 9, with immediate effect.
Janice Hu is entrusted with leading the growing financial operations in China, onshore business and regulatory activities, and capitalizing on collaboration opportunities. In addition, she will also be setting a wide-ranging platform and to promote the bank's presence in Asia-Pacific region and Greater China.
“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", said Carsten Stoehr, CEO of Greater China at Credit Suisse.
Hu, with more than 25 years of experience in financial markets, has served in a number of leadership roles. She has worked at Credit Suisse for 20 years, handling various roles across China including Vice Chairwoman and Head of Investment Banking. Hu played a major role in the Joint venture of 2020, where Credit Suisse became a significant shareholder of China securities.
Credit Suisse renamed its China securities joint venture as Credit Suisse Securities (China) Limited, marking another key step in the bank’s ongoing build-out of its China franchise
Since 2020, Credit Suisse has been on a hiring spree and has managed to hire more than 60 employees and professionals across different sections, businesses and corporate functions within the company. Janice Hu's recent appointment as CEO of China may spark Credit Suisse's major foothold in Asia-Pacific region and primarily in Greater China, targeting investment in the market and to achieve Credit Suisse's long term objective to bring the integrated advisory services and solutions to clients in China.