Credit Suisse enters China onshore private banking
The Swiss firm has hired its first private bank chief based in China, as it continues to build out local businesses in Asia. It's not clear whether it is still seeking local mainland partners.
Credit Suisse has appointed its first onshore China private bank chief, signalling its foray into the mainland wealth management market.
Ex-RBS executive Rick Meng has joined as managing director and head of private banking based in Shanghai. He reports to Francois Monnet, head of private banking for Greater China, and David Liu, Shanghai branch manager.
The firm said the appointment was an important step in its strategy to develop onshore wealth management capabilities, which …
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