Credit Suisse has appointed Janice Hu, Vice Chairwoman for China at Credit Suisse and current board member of CSFS, to be Chairwoman of CSFS
Credit Suisse today announces the completion of the transaction to become a majority shareholder in its China securities joint venture, Credit Suisse Founder Securities Limited (CSFS). With the transaction completed, veteran Credit Suisse banker Janice Hu has been appointed Chairwoman of CSFS.
Credit Suisse has successfully closed the increase of its shareholding in CSFS from 33.3% to 51%. In April this year, the China Securities Regulatory Commission (CSRC) granted the bank the approval to become a majority shareholder in CSFS. The bank intends to continue to invest in this key market to bring its integrated capabilities and comprehensive range of client advisory and financial products to both domestic and international clients in China.
Credit Suisse has appointed Janice Hu, Vice Chairwoman for China at Credit Suisse and current board member of CSFS, to be Chairwoman of CSFS to help drive the bank’s China onshore strategy and CSFS’s future business plans. A veteran investment banker with a strong track record as a client-focused, results-oriented leader, Janice is one of the most experienced China bankers in the industry and has been with Credit Suisse for almost two decades. She will be responsible for enhancing CSFS’ coverage efforts in China, with a particular focus on the bank’s most important entrepreneur and private sector corporate clients, as well as overseeing relationships with government agencies and regulators.
Established in 2008 and headquartered in Beijing, CSFS provides a range of capital markets services to clients in the domestic China market, including sponsoring and underwriting A-shares, foreign investment shares and government and corporate bonds, as well as providing 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.
Source: Company Press Release