Corporate Press Release
Credit Suisse announces appointments to Investment Banking & Capital Markets and Greater China Leadership team
Mr. Hung, who is based in Hong Kong, was formerly Head of Investment Banking & Capital Markets, Greater China and has been responsible for leading the development of Credit Suisse's market- leading banking presence in the region. In his new role, he will work closely with Edwin Low, his fellow co-head based in Singapore, to broaden Credit Suisse's client base across Asia Pacific, and identify opportunities to deliver a wider range of innovative solutions to the bank's most important clients. Mr. Hung joined Credit Suisse in 1998 and has been a key part of the bank's business growth in Greater China and a significant contributor to many landmark transactions. Together with Mr. Low, they will build on the highly successful Investment Banking franchise that Credit Suisse has established in the region, which was ranked #1 in investment banking revenues for Asia Pacific ex-Japan in 2017 by Dealogic.
Mr. Stoehr will assume the role of Greater China CEO in addition to his current responsibilities as Head of the Asia Pacific Financing Group (AFG) and Chairman of the Board of Credit Suisse Hong Kong Limited and Credit Suisse Hong Kong Securities Limited. As one of Credit Suisse's most successful business leaders, Mr. Stoehr will be responsible for leading the development of Credit Suisse's businesses across Private Banking and Investment Banking in Greater China, aiming to maximize profitability, harness business opportunities and grow the strength of the overall franchise. Mr. Stoehr has been instrumental in developing the bank's profitable Asia Pacific Financing Group, which is unique across the banking industry in the region, as a centralized trading, risk management, structuring and syndication platform that extends capital to the banks' most important clients. In his new role, Mr. Stoehr will be responsible for leading Credit Suisse's strategy in one of its most important markets, and he will also have primary responsibility for overseeing all the bank's legal entities and local regulatory relationships in Greater China.
The appointments of Mr. Hung and Mr. Stoehr follow the departure of Mervyn Chow who is leaving Credit Suisse to pursue other opportunities.
As of the first nine months of 2017, Credit Suisse Asia Pacific reported record Assets under Management (AuM) of CHF 190 billion and an adjusted return on regulatory capital of 18% in the third quarter, underlining the success of its strategy of serving ultra-high-net-worth (UHNW), entrepreneur, corporate and institutional clients. The bank was recently awarded a number of prestigious industry accolades for its work with clients last year including "Best Private Bank – Asia Pacific" (Asian Private Banker), "Asia's Best Investment Bank" (GlobalCapital) and "Asia Pacific Loan House of the Year" (IFR Asia).