Another Credit Suisse veteran is leaving the embattled Swiss lender to pursue opportunities elsewhere.
After 25 years of service, Zeth Hung is leaving Credit Suisse, according to an internal memo seen by finews.asia. He will step down from his current role as the vice chairman of APAC investment banking & capital markets (IBCM).
He joined Credit Suisse in 1998 from BZW and was part of the Swiss lender’s business foray into Greater China and APAC, particularly with partnerships leveraging the «one bank» approach model where entrepreneurial clients are serviced by various part of the financial group, including private and investment banking.
Luckin Coffee
Since becoming the co-head of APAC IBCM in January 2018, Hung led the regional investment banking business. He was a key banker for the Luckin Coffee relationship which in 2020 became embroiled in a scandal over fabricated revenue, as reported by «Bloomberg» (behind paywall).
The troubled Swiss financial lender has seen several departures of senior bankers in the past few months, including Greater China CEO Carsten Stoehr, and Asia wealth deputy head Jin Yee Young. And most recently Johanes Oeni, the market group head of Indonesia and Malaysia also left the bank, as finews.asia reported.
