Credit Suisse is promoting a high-ranking Asian banker to run its greater China business. The bank is also entrusting a veteran Hong Kong banker with more responsibility.
Credit Suisse is bumping up its co-head of investment banking and capital markets in Asia, Mervyn Chow, to also become head of greater China, according to a press release from the Swiss bank. He will add the China job on top of his current role.
Also, the Swiss bank's head of financing in Asia, Carsten Stoehr, (pictured below) will join the board of Credit Suisse's subsidiaries in Hong Kong, where he is based.
Chow and Stoehr assume their new roles following the retirement of Neil Harvey, head of Hong Kong and chairman of Greater China, after 17 years at Credit Suisse, at year-end.
Greatly Expanded Role
Chow will run Credit Suisse’s overall strategy in China for private banking as well as investment banking. He will also lead the development of the bank's onshore franchise and be responsible for maintaining Chinese regulatory relationships.
The appointment of Stoehr, a Credit Suisse veteran who returned recently after a stint at Standard Chartered, puts him in charge of the Swiss bank's two key Hong Kong entities, in addition to his financing role in the wider region.
