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Credit Suisse renames China securities joint venture

Credit Suisse is pleased to announce that it has renamed its China securities joint venture as Credit Suisse Securities (China) Limited (CSS), marking another major step in the bank’s ongoing build-out of its China franchise. Credit Suisse became a majority shareholder in the securities joint venture in June 2020, following the completion of a capital injection.

Helman Sitohang, CEO of Asia Pacific at Credit Suisse, said: “China represents significant opportunities for Credit Suisse and is very important to our global and regional strategy. We will continue to invest in our presence in China to best serve our clients amid the liberalization of the local financial services market.”

Carsten Stoehr, CEO of Greater China at Credit Suisse, said: “The rebranding of our securities joint venture represents an important milestone in the continued commitment to our China franchise. Our future expansion will focus on further broadening our presence and capabilities as we position Credit Suisse to become the leading international wealth manager in China with strong investment banking capabilities.”

Since Credit Suisse’s acquisition of a 51% stake in the securities joint venture last June, more than 60 professionals have been recruited to join the joint venture across all businesses and corporate functions.

Strong industry recognition

Credit Suisse has a strong track record in Asia Pacific and in Greater China. In recent years, Credit Suisse has won numerous top regional awards including Asia’s Best Bank for Wealth Management from Euromoney, Best Private Bank in Asia Pacific from Asian Private Banker and Best Investment Bank from GlobalCapital Asia. Credit Suisse has also been named Equity and Credit Derivatives House of the Year by Asia Risk, and Best House for Asian Equities by Structured Retail Products.

In Greater China, over the past two years, Credit Suisse has been named Best International Private Bank for Hong Kong and Taiwan by Asiamoney, Best Corporate and Institutional Advisor – Global for China by The Asset, and Best House for Hong Kong and Taiwan markets by Structured Retail Products. These awards underscore the strength of our integrated platform.

In 2020, Credit Suisse was ranked #1 for US IPOs of Chinese companies by number of deals and deal value, and #1 for China technology IPOs by number of deals, according to Dealogic.

About Credit Suisse Securities (China) Limited (CSS)

Established in 2008 and headquartered in Beijing, CSS, previously known as Credit Suisse Founder Securities Limited (CSFS), provides a range of capital markets services to clients in the domestic China market, including securities sponsoring and underwriting, as well as financial advisory services. Since October 2016, it has also operated a securities brokerage business in Shenzhen Qianhai and has continued to expand its trading and execution capabilities.

Credit Suisse in China

Credit Suisse’s journey in China began more than 60 years ago when it started a correspondent banking relationship with the Bank of China in the 1950s. Credit Suisse was the first Swiss bank to open a representative office in Beijing in 1985, and subsequently opened its Shanghai Bank Branch. Over the years, Credit Suisse has built a strong Greater China business, with a market-leading franchise across private banking, equities, and investment banking and capital markets.

In addition to the securities joint venture, Credit Suisse has an asset management joint venture – ICBC Credit Suisse Asset Management Co. Ltd. – which is among the largest in China, with total assets under management of nearly RMB1.4 trillion as of the end of December 2020.