Credit Suisse is promoting an investment banker to co-head its trading business in China, finews.com has learned.
The Swiss bank is promoting Joe Lai as co-head of investment banking and capital markets, or its trading division, in China, according to a memorandum sent to staff and seen by finews.com.
The move, effective immediately, comes after a reshuffle at the top of the unit following the exit of high-profile rainmaker Mervyn Chow in January.
Eyeing Entrepreneurs
Lai will jointly run the unit with Honggui Li, and the two will report to wider Asia trading unit heads Zeth Hung and Edwin Low. The bank told staff the promotion underscores its commitment to China, both for onshore as well as offshore banking.
Lai and Honggui are tasked with selling investment banking services like capital markets access to Chinese clients, and in particular targeting wealthy entrepreneurs.
