Credit Suisse has reportedly named the co-heads of its Asia Pacific financing group, a key unit for its proposition as the entrepreneur’s bank.
Tim Tu and Aaron Oh will be appointed as the co-heads of the APAC financing group, according to a «Bloomberg» report citing unnamed sources.
Tu was most recently the chief executive of Credit Suisse’s China securities venture before stepping down last month. He was also the Greater China head of the bank's financing group until the end of last year. Tu joined Credit Suisse in 2016 as the Greater China head of structuring after spending 11 years with Standard Chartered.
Oh is the vice chairman of investment banking for Asia and regional head of structured solutions. He started his career at Lehman Brothers in 2004 and joined Credit Suisse in 2008.
Asia Restructuring
Part of the APAC financing unit will be placed in a joint venture between various units – investment banking and capital markets as well as private banking. It is expected to be part of a continued effort to boost revenue from entrepreneurs and wealthy individuals in the region.
Asia has also been the subject of broader restructuring by the group. Steps taken include removing the autonomy the region previously enjoyed. Asia investment banking and capital markets co-head Edwin Low also succeeded Helman Sitohang as APAC CEO.
