Credit Suisse promotes joint heads of non-China FIG

The former Bank of America executive has relocated from London to Shanghai.

US bank has hired Peter Yeung as a director in its investment banking team covering financial institutions as clients in this area in Asia wrestle with increased regulation and look to raise capital and sell assets.

After a deluge of defaults, a new state-owned bank called United Islamic Bank is set to emerge out of the five banks, with the plan to privatise them over time.

Singapore-based Marketa Dvorak started earlier this month at the active asset manager and was previously at Wellington Management.

Nora Yeung will join the German bank in September, after 12 years with Credit Suisse.

Claims would be based on a breach of international investment agreements, and launched on behalf of Credit Suisse’s AT1 investors from jurisdictions including Hong Kong, Japan, Korea, Singapore and the UAE.