Credit Suisse has a long-term commitment to China. We established correspondent banking ties with the Bank of China in 1955. In 1985 Credit Suisse became the first Swiss bank to establish a representative office in Beijing. Subsequently, the bank continued to expand its presence in China by establishing a second representative office, which was later converted into a branch in Shanghai.
In 1998, the Credit Suisse Shanghai branch obtained a Renminbi (RMB) license. The branch also holds a license for derivatives business and a Qualified Domestic Institutional Investor (QDII) quota. QDII allows the branch to pool RMB funds from domestic investors, convert the funds into foreign currencies, and invest them in offshore securities on behalf of domestic investors. Credit Suisse also obtained its first QFII license in 2003 and its second QFII license in 2008.
Today, in addition to our Shanghai bank branch, we have established asset management and securities joint ventures in Beijing and have representative offices in Beijing, Shanghai and Guangzhou.
As the world’s fastest-growing economy, China presents individuals and organizations with many opportunities for achieving their personal wealth and business growth objectives. At Credit Suisse, we can help you profit from these prospects, connecting you with specialist solutions, not only in China, but from across the globe.
Credit Suisse is a leading investment bank in China and assists both Chinese state-owned enterprises and private sector companies in their offshore financing in global capital markets and overseas M&A activities. The bank provides innovative solutions and efficient capital sources to clients in China.
Through our integrated One Bank approach, the China investment banking team works in close collaboration with our product, industry, and global Investment Banking teams, as well as Private Banking and Asset Management to deliver integrated solutions.
We have a designated China Investment Banking team that assists our clients in achieving their objectives, through international mergers and acquisitions, offshore equity, debt, loan and structured capital raising, and also facilitates our joint venture Credit Suisse Founder Securities in relation to onshore Investment Banking solutions.
Rankings (Source: Dealogic, as of Q3 2014)
- #1 in IPOs and follow-ons of US-listed Chinese companies from 2008 to 2014 (by number of deals and volume)
- #1 in the number of Asia IPOs in 2014 in volume
- #1 in offshore IPO sand equity-linked offerings by Chinese technology companies (by number of deals)
- #1 in IPOs and #1 in M&A advisory for global technology companies from 2000 to 2013; No. 1 in M&As in the global technology sector (by number of deals)
- #3 in completed outbound M&As by Chinese companies
Credit Suisse's involvement in landmark offshore IPOs by Chinese companies
- CNOOC – IPO – 2001 – US$1.42 bn
- China Life Insurance Company – IPO – 2003 – US$3.5 bn
- China Construction Bank (CCB) – IPO – 2005 – US$9.2 bn
- Industrial and Commercial Bank of China (ICBC) – IPO – 2006 – US$16.06 bn
- China Pacific Insurance (Group) Co., Ltd (CPIC) – (FO) – 2009 – US$3.58 bn
- People's Insurance (Group) Company of China Ltd. (PICC) – IPO – 2012 – US$3.56 bn
- China Cinda Asset Management Co., Ltd – IPO – 2013 – US$2.82 bn
- Alibaba Group Holding Ltd – IPO – 2014 – US$25 bn
As financial advisor, Credit Suisse has assisted Chinese companies in completing landmark mergers and acquisitions in recent years. These include Alibaba Group's US$7.6 bn acquisition of a 20% stake in Yahoo and a US$2.35 bn privatization; joint venture agreement between ALCOA and China Power Investment Corporation (CPI); the forming of a US$2.5 bn joint venture between Sinopec and Devon; China Three Georges Corporation's US$3.51 bn acquisition of EPD's 21.35% stake; State Grid Corporation of China's US$6.7 bn acquisition of 60% stake in Australia-based SPI; Lenovo's US$2.4 bn acquisition of IBM X8 and US$2.9 bn acquisition of Motorola smart phone business, and the transaction between Xstrata and China Minmetals.
Credit Suisse is one of the first batch of Qualified Foreign Institutional Investors (QFII) and is also the first QFII trading index futures in China. It has invested in the China's domestic A-share market since 2003. Credit Suisse China Equities team actively service China Qualified Domestic Institutional Investors (QDII) and other important clients, providing them with access to all major international financial markets through a wide variety of investment products. Headed by Vincent Chan, the Credit Suisse China Equities research team,is recognized as one of the best China coverage research teams. The team was ranked the Top 3 China Equity Research team by Institutional Investor magazine in 2014.
In supporting the launch of Shanghai-Hong Kong Stock Connect in November 2014, a mutual market access program, Credit Suisse has significantly expanded its China A-share research and analytical capabilities, providing investors with the most comprehensive and best in class analytical tools for A-shares listed in China. The Bank has also invested in building the bench of talent and infrastructure to provide best in class products and services to our clients.
Credit Suisse has built up its presence in Fixed Income in China, operating from the bank's Shanghai branch. We were among the first foreign banks to obtain approval from the China Banking Regulatory Commission (CBRC) to engage in derivatives business. Our comprehensive integrated global platform and the Global Currencies and Emerging Markets China team provide us with a unique competitive edge to serve the local needs of our clients.
Private Banking and Wealth Management
Credit Suisse's Private Banking and Wealth Management franchise has a history of over 150 years and is highly regarded across the globe.
The Private Banking and Wealth Management Division has a network of over 300 offices in 41 countries, employing 26,300 employees and serving over two million clients, with a total asset under management globally is over US$1,377 billion*. As of Q1 2015, total asset under management in Asia Pacific reached CHF147.7 billion, a year-on-year increase of 22%. The division recorded Net New Assets (NNA) of CHF4.6 billion in 1Q15, a key contributor to the global NNA growth. In China, our Asset Management business continues to build on its successes after Credit Suisse formed a fund management joint venture with the Industrial and Commercial Bank of China in 2005. The joint venture, called ICBC Credit Suisse Asset Management Company Limited (ICBCCS), was the first joint venture asset manager formed between a domestic Chinese commercial bank and a foreign asset manager. Credit Suisse owns a 20% stake in ICBCCS joint venture.
As of 31 March, 2015, ICBCCS has approximately of RMB640 bn assets under management and manages 56 publicly offered funds, as well as close to 700 privately offered special account portfolios. ICBCCS is one of the few fund companies with full qualifications in this industry. It is one of the two Investment Managers selected to manage both the onshore and offshore assets for China's National Council for Social Security Fund. ICBCCS ranked No. 1 among Sino-foreign fund management JV and is the third-biggest asset manager in China in terms of assets under management. In 2014, ICBCCS was also awarded the Best Fixed Income Manager in China by Institutional Investor magazine.
Data as of March 2015
Credit Suisse actively supports long-term education for underprivileged children in China. Starting in 1999, the bank has supported the construction of 24 schools in China's rural areas. A particular effort including a number of volunteering activities at the schools concerned was sustained in the aftermath of the massive Wenchuan earthquake in Sichuan. With a view to further expand its community-related efforts in China, Credit Suisse established its China Charity Committee in early 2008 with the mandate to support education-related philanthropy programs within the communities in which we regularly interact.
Across the country, both Chinese and foreign Credit Suisse staff engage in volunteer work with local charity partners. An example of this is our work with GETCH Foundation in Guangzhou. GETCH is one of a few foundations providing services include: vocational education, leadership training and employment skills for young people with disabilities in China.In 2014 our staff participated in their second annual GETCH Run, Walk and Roll in Shenzhen.. In Shanghai, Credit Suisse has also partnered with a number of not-for-profit organizations in a series of volunteering programs to provide learning opportunities to migrant school children.
Credit Suisse also actively funds China charities through annual philanthropy grants, providing both financial as well as volunteering support. For the past few years we have helped Half the Sky Foundation, a charity in China with the mission to enrich the lives of orphaned children living in China's social welfare institutions. Since its inception in 1998, the charity has cared for more than 40,000 children. Half the Sky Foundation provides individual care and stimulation for babies, innovative preschools that encourage an early love of learning, personalized education opportunities for older children and loving, permanent foster homes for children with special needs. Credit Suisse has been the National Sponsor of the Little Sisters Preschool Program. Our grant will directly supports four centres located in Wuhan, Urumqi, Qingdao and Qingyuan in China.
Beginning with an initial grant in 2013, we are currently supporting educational support for children from disadvantaged communities with the sponsorship of teaching Fellows through the Teach for China program. Our grants have helped Teach for China affiliated schools in Guangdong and Yunnan provinces. Inspired by the vision that one day all Chinese children will have access to quality education, Teach for China focusses on recruiting, training and placing outstanding graduates in low-income schools to better equip children with the skills and critical thinking that will help them to fulfill their potential.
Credit Suisse Greater China Awards 2014
Credit Suisse China has been recognized by key financial publications for outstanding performance in both the Investment Banking and Private Banking and Wealth Management businesses, as evidenced by prestigious year-end awards. In 2014, IFR Asia named Credit Suisse China Equity House of the year, and our left lead role in Alibaba's landmark US$ 25 bn IPO helped the Chinese e-commerce company to win many equity deal awards.
Credit Suisse was named the "Best Private Bank Taiwan (Foreign)", "Best Family Office Offering" and "Best UHNW Offering" in the 6th Private Banker International Greater China Awards held in May 2014 in Hong Kong.
"Equity Derivatives House of the Year, Asia"
"Best Investment Grade Syndicated Loan" – Xiaomi US$1.0 billion loan financing (Credit Suisse acted as MLAB)
|GlobalCapital Asia/Asiamoney – Regional Capital Markets Awards 2014||"Best Investment Grade Syndicated Loan" – Xiaomi US$1.0 billion loan financing (Credit Suisse acted as MLAB)
"Best Equity-Linked Deal" – Qihoo 360 Technology US$1.035 billion convertible bond (Credit Suisse acted as joint bookrunner)
"Best IPO" – Alibaba US$25 billion IPO (Credit Suisse acted as joint global coordinator)
"Best Financial Bond" – Bank of China US$6.5 billion 6.75% additional tier one perpetual preferred shares (Credit Suisse acted as joint bookrunner)
The Asset – Triple A Regional House and Deal Awards 2014
|"Best IPO, Best Equity and Best ADR" - Alibaba US$25 billion IPO (Credit Suisse acted as joint global coordinator)
"Best Bank Capital Bond" – Bank of China US$6.5 billion additional tier 1 offshore preference shares (Credit Suisse acted as joint bookrunner)
International Financing Review – Europe and Americas IFR Awards 2014
"North America Equity Issue: Alibaba Group's US$25bn IPO"
|IFR Asia – Review of the Year 2014||"China Equity House"
"Asia Pacific Equity Issue and Equity Issue – Alibaba Group's US$25 billion IPO (Credit Suisse acted as joint global coordinator)"
|Asiamoney – Country Deals of the Year 2014||"Best China Deal - Alibaba US$25 billion IPO (Credit Suisse acted as joint global coordinator)"|
|FinanceAsia – Achievement Awards 2014||"Best China Deal" – Lenovo's US$2.3 billion acquisition of IBM's x86 server business (Credit Suisse acted as financial advisor)
"Deal of the Year, Best Equity Deal & Best IPO" – Alibaba US$25 billion IPO (Credit Suisse acted as joint global coordinator)
"Best Secondary Offering" – China Oilfield Services US$759 million private placement (Credit Suisse acted as joint bookrunner)
"Best Equity-Linked Deal" – Qihoo 360 Technology US$1.035 billion convertible bond (Credit Suisse acted as joint bookrunner)
|6th Private Banker International Greater China Awards 2014||
Outstanding Private Bank – North Asia,
Outstanding Private Bank for UHNW clients,
Outstanding RM Training and Development Program, as well as highly commended awards for Outstanding Philanthropy Offering and Best Family Office Offering.
CAPITAL (Hong Kong)
Merits of Achievements in Banking and Finance Award – Private Bank
Private Banker International
Best Private Bank Taiwan (Foreign),
Best Family Office Offering,
Best UHNW Offering