The Swiss bank is ramping up its operations in mainland China. This comes after the bank gained a majority stake in a securities joint venture last year.
Credit Suisse plans to increase its headcount in mainland China threefold over the next three years, according to a «Reuters» report, citing the bank's China head Janice Hu at a media roundtable.
Since taking a majority stake in Chinese securities joint venture, Founders Securities, in June last year, the Swiss lender has hired more than 120 people. The bank is in talks to provide financing for internet firms unable to list in the short-term, according to Hu.
Regulatory Focus
Regulation, concerning cross-border data transfers is also in focus. China recently introduced a data security law that that requires classification governance of data storage and transferal.
«We are communicating with the regulator and our headquarters on a daily basis to achieve a plan that regulators can agree with and is feasible for us […] this is at the core of our work,» Hu said.
Investor Day
Closer to Paradeplatz, the bank prepares to release a wide-ranging strategy review along with its third quarter results to investors on Thursday.
