Credit Suisse Strengthens North Asia Private Banking Team, Appoints 5 New Team Leaders
5th October 2021 | Hong Kong
Credit Suisse, the Swiss banking group with more than $1.75 trillion managed assets (CHF 1.59 trillion), has strengthened the North Asia Private Banking Team with the appointment of 5 new team leaders (3 new hires and 2 internal promotions). Credit Suisse Private Bank 3 new team leaders are Team Leader of Hong Kong Sunny Ho (former China Minsheng Bank Head of Private Banking), Team Leader of China Edith Wong (former JP Morgan Private bank Team Leader, China) and Team Leader of Greater China Singapore Mel Chua (former Bank of China Private Bank Head of Front Office). Credit Suisse Head of Private Banking North Asia Francois Monnet also announced the promotion of Senior Investment Consultant for Greater China Edward Lee as Team Leader for Hong Kong and Steven Lau as Team Leader for Hong Kong. Credit Suisse has been on a drive to grow Private Banking in Asia and North Asia to serve the fast-growing billionaires, UHNWs & HNWs, attracting top talents including more than 50 net hires of Relationship Managers across both North and South Asia in India, Southeast Asia, Hong Kong, Japan and Australia in 2021. (UHNW, HNW ~ Ultra high net worth, High net worth)
“ Credit Suisse Strengthens North Asia Private Banking Team, Appoints 5 New Team Leaders “
Private bankers typically manage $100 million to $300 million of assets, with the most senior and top private bankers managing assets of $300 million to $1 billion and top UHNW private bankers can manage book size of $500 million to $2 billion.
Francois Monnet, Credit Suisse Head of Private Banking North Asia:
“We see Private Banking North Asia as a strategic growth pillar for the bank and have invested significantly in bolstering our teams and platforms to effectively capture the region’s opportunities.
To continue elevating our capability here, we are expanding our management bench strength with the appointment of five new Team Leaders to drive growth momentum in this critical region. Together with our teams of talented relationship managers, we look forward to deepening our position as a leading market player and more importantly, serve as a steadfast partner to our clients throughout their wealth management lifecycle.”
Credit Suisse Private Bank New Team Leaders:
- Sunny Ho, Team Leader for Hong Kong (China Minsheng Bank Head of Private Banking)
- Edith Wong, Team Leader for China (JP Morgan Private bank Team Leader, China)
- Mel Chua, Team Leader for Greater China Singapore (Bank of China Private Bank Head of Front Office)
- Edward Lee, Team Leader for Hong Kong (Internal Promotion)
- Steven Lau, Team Leader for Hong Kong (Internal Promotion)
Sunny Ho joined Credit Suisse as Team Leader for Hong Kong market in September 2021. Sunny is a seasoned banker who brings with him more than 22 years of banking experience. He was previously Head of Private Banking at China Minsheng Bank where he was responsible for the development and implementation of business strategies. He also oversaw the bank’s wealth management services and products since 2013. Prior to that, Sunny was from HSBC, Citibank and Societe Generale. In his new role, Sunny will report to Rickie Chan, Market Group Head of Hong Kong.
Edith Wong joined Credit Suisse as Team Leader for China market in September. She has over 20 years of experience in the financial industry and in serving Ultra High Net Worth (UHNW) clients, bringing with her a strong depth of knowledge in the wealth management industry. She joins Credit Suisse after serving as Team Lead for the China Market at J.P. Morgan Private Bank, where she led a team of relationship managers and focused on serving UHNW clients in China. Before that, she spent 12 years at UBS Wealth Management in Hong Kong. Edith will report to Martin Loh, Market Group Head of China.
Mel Chua joined Credit Suisse as Team Leader for Greater China Singapore in September. He previously served as the Head of Front Office at the Bank of China Private Bank since 2018, where his responsibilities covered sales, as well as managing teams and clients. Before that, Mel worked in Bank of Singapore (Hong Kong Branch), UBS AG and in HSBC Singapore. Mel holds 17 years of banking experience, with ten years in sales management. He has built a strong focus around the Greater China market since 2007, initially covering Taiwan and subsequently transitioning to serve the China and Hong Kong markets as well from 2012. Mel will report to John Huang, Market Leader, Greater China Singapore. He will report to Eddy Sze, Market Group Head of Hong Kong.
Edward Lee has been appointed Team Leader for Hong Kong market from October, following his most recent role as a Senior Investment Consultant for Greater China, where he was responsible for driving investment sales momentum and client engagement. He has been a top performer as an Investment Consultant where he covered Greater China UHNW and institutional clients. Edward has 20 years of experience in the financial sector and has held various roles at HSBC and Citibank before joining Credit Suisse in 2008.
Steven Lau, who has been with Credit Suisse for more than five years, has been appointed Team Leader for Hong Kong market from October. He was involved in and also originated several integrated bank deals including private equity, pass-through-notes and global markets solutions for family offices. Prior to joining the bank, Steven was with Marex Spectron, BNP Paribas and Ernst & Young. He will report to Eddy Sze, Market Group Head of Hong Kong.
Credit Suisse, $1.75 Trillion AUM
In 2021 Q1, Credit Suisse reported total AUM of $1.75 trillion (CHF 1.59 trillion). Credit Suisse has 3 main business groups: Swiss Universal Bank, International Wealth Management (Private Banking) and Asia Pacific. The 3 business groups are supported by Credit Suisse Investment Bank. (AUM ~ Assets under Management)
For Asia Pacific, Credit Suisse reported CHF 241.9 billion AUM with 630 Relationship Managers in 2021 Q1.
Credit Suisse Assets under Management (AUM):
- Swiss Universal Bank – Private Clients: CHF 213.1 billion
- Swiss Universal Bank – Corporate & Institutions: CHF 487 billion
- International Wealth Management – Private Bank: CHF 386.2 billion
- International Wealth Management – Asset Management: CHF 458 billion
- Asia Pacific: CHF 241.9 billion
- Total: CHF 1.59 trillion / $1.75 trillion
(Net CHF 1.59 trillion AUM after reducing CHF 190.2 billion from assets managed by Credit Suisse Asset Management within International Wealth Management)
Credit Suisse Growing Fast in Asia
Credit Suisse continues to grow in Asia, and focusing on accelerating growth in North Asia including China. In Q1 2021, Credit Suisse hired 30 Private Bankers in Asia-Pacific.
Credit Suisse APAC reporting highlights for 1Q 2021:
- CS APAC delivered record net revenue and adjusted pre-tax income (PTI
- APAC regional revenue +39% YoY and 20% of Group revenue
- Client Business Volume at $419 billion
- APAC division pre-tax income more than doubled YOY
- Net New Assets $5.4 billion in 2021 Q1
Credit Suisse:
- Credit Suisse Senior Appointments & New Hires for Investment Banking & Capital Markets in APAC, Christian Deiss as Head of M&A APAC
- Credit Suisse Appoints Head of Family Office Services APAC Thomas Ang as Head of Wealth Planning APAC
- Credit Suisse Strengthens Investment Team, Hires Matthew Peh as Team Head of Emerging Asia & UHNW Investment Consulting
- Credit Suisse Strengthens Investment Team, Chatkaew Groatong as Head of Private Funds & Russell Huang as Managed Solutions Specialist
- Credit Suisse Report: Archegos Family Office Had $120 Billion Total Exposure
- Credit Suisse Hires Stella Lau as Private Bank Market Leader for Greater China, Adds 5 Senior Private Bankers
- Credit Suisse Hires Nicole Dunn as Private Banking Team Leader in Australia, 1.8 Million HNWs in Australia
- Credit Suisse Appoints Shirley Law as Private Bank Market Leader for Singapore, 270000 HNWIs in Singapore
- Credit Suisse Appoints Joyce Low as Market Leader Malaysia, To Maintain Leading Position
- Credit Suisse Hires Malcolm Tay as Deputy Group Head & Market Leader for Indonesia, Accomplished Banker with Stellar Reputation
- Credit Suisse Private Bank Expands in Greater China, Appoints John Huang as New Greater China Market Leader
- Credit Suisse Private Bank Appoints Tammy Tan as Team Leader for Thailand & Vietnam
- Credit Suisse Appoints Alois Müller as Head of Private & Alternative Markets APAC, Target $7.8 Billion Assets Yearly
- Credit Suisse Appoints Lock Keng Cheong as Market Group Head Greater China, Adds 6 Private Bankers & Advisors
- Credit Suisse Appoints Dominique Boer as Market Group Head Singapore, Adds 7 Private Bankers & Advisors
- Credit Suisse, UBS, Nomura, MUFJ and Morgan Stanley Losses for Archegos Family Office Nears $10 Billion
- Credit Suisse Raises $1.92 Billion in Capital, $5.5 billion Losses from Archegos Family Office
- Credit Suisse and Nomura in $6 Billion Hit by Bill Hwang Archegos Family Office
- Credit Suisse Global Wealth Report 2021
- Credit Suisse Global Wealth Report 2020
More:
- 2020 List of International Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
Credit Suisse
Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland.
Credit Suisse employs approximately 49,090 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.
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