Credit Suisse PB hires in China

The Swiss firm has recruited its first private bank chief in Shanghai, as it continues to build out local businesses in Asia. But it's not clear whether it's still seeking mainland partners.
Credit Suisse has hired an ex-RBS executive to run the new business in Shanghai
Credit Suisse has hired an ex-RBS executive to run the new business in Shanghai

Credit Suisse has appointed its first onshore China private bank chief, signalling its foray into the mainland wealth management market. 

Ex-RBS executive Rick Meng has joined as managing director and head of private banking based in Shanghai. He reports to Francois Monnet, head of private banking for Greater China, and David Liu, Shanghai branch manager.

The firm said the appointment was an important step in its strategy to develop onshore wealth management capabilities, which will leverage the investment banking services of its Shanghai branch. 

Partnership approach

Credit Suisse said in June it was looking to enter...

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