Credit Suisse has appointed Neil Harvey as its Hong Kong chief executive officer and co-CEO of Greater China. The bank said the appointment demonstrates the strategic importance of the region as one of its key growth opportunities.
Harvey will jointly oversee the Greater China operation with Liping Zhang, who is also vice-chairman of the global investment banking department.
“In Liping and Neil, we have two highly effective and experienced professionals with deep expertise in Greater China and an excellent track record of growing businesses,” said Eric Varvel, Credit Suisse’s Asia-Pacific CEO.
“Together, they will leverage the full strength of the bank in Greater China across our private banking and wealth management and investment banking divisions, and ensure an integrated and coordinated approach in supporting our clients,” he said in a statement.
Although China businesses have yet to become a big growth driver, global banks are strategically deploying resources to ride the country’s economic growth. Deutsche Bank has made a senior appointment for its China businesses, which a spokesperson said will be announced soon.
China announced on Friday that its economy grew by a better-than-expected 7.8% for 2012, thanks to growing domestic demand and an export recovery at the end of the year.
Zhang and Harvey will also have responsibility for overseeing and maintaining all local regulatory relationships in Greater China.
Harvey has been involved in investment banking and asset management for 27 years, and has significant knowledge and understanding of emerging markets and Asia, having worked in the region for 15 years.
A 13-year veteran at Credit Suisse, his most recent role was as head of Asia-Pacific and global emerging markets for the asset management division.
Harvey has also been head of investment banking and fixed income for Asia (excluding Japan). He was also a founder of Credit Suisse’s global emerging markets fixed-income business.
Zhang joined Credit Suisse in 2004 and has more than 30 years of financial industry, corporate management and government sector experience. He started his career at China’s Ministry of Foreign Trade and Economic Cooperation in Beijing in the early 1980s and held a number of senior positions at different multinational companies.
© Haymarket Media Limited. All rights reserved.