Wang given Greater China role at Credit Suisse

Steven Wang moves from UBS as head of consumer, retail and healthcare for Greater China, a newly created role within the bank.

Credit Suisse has appointed Steven Wang to its investment banking department as head of consumer, retail and healthcare for Greater China, a newly created role within the bank.

Wang was most recently a managing director in the China investment banking team at UBS, covering various sectors including healthcare, industrial, automotive, consumer and retail.

Prior to this he worked for the investment banking team at Morgan Stanley from 2007 to 2011 and helped to manage several US and Hong Kong initial public offerings and cross-border mergers and acquisitions for Chinese and other Asia-based healthcare companies.

Wang's move to Credit Suisse is effective from August, according to a person familiar with the matter, and will see him report to Janice Hu, managing director and head of China in the investment banking department. Wang will be based in Hong Kong.

Wang’s newly created position comes at a key time for China's massive retail and consumer industries. Currently in second place, the country is likely to overtake the US in the next five years as the world’s biggest retail market, according to Fung Group. Other analysts think that moment could come even sooner.

China makes clothing and toys for some of the world's biggest retailers and consumer brands. 

M&A is expected to drive growth in the Chinese retail and consumer sectors as consumer spending increases along with the rise in spending power of the country's middle class. As companies expand, some will struggle to innovate and keep pace with the growth, leading to consolidation and more work for investment banks. 

Separately, Michael Lam has rejoined Credit Suisse from Deutsche Bank as head of China debt capital markets, according to a person familiar with the matter. He reports to Derek Armstrong, head of DCM originations for Asia-Pacific.

At Deutsche Bank, he was in the fixed-income capital markets team. Before Deutsche Bank, he worked in DCM at Credit Suisse and Nomura. He has more than 14 years of experience in DCM, all in HK serving clients in the Greater China and broader Asian markets.

Lam is based in Hong Kong.

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