Credit Suisse confirms CEO for China securities JV, names i-banking head

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich's Oerlikon suburb, Switzerland July 27, 2017. REUTERS/Arnd Wiegmann

Credit Suisse on Thursday appointed Hong Kong-based senior banker Tim Tu as chief executive of its joint venture with China’s Founder Securities, confirming a Reuters report, while also naming a new investment banking head for the tie-up.

Reuters on Wednesday report Tu, a managing director in the bank’s Asia Pacific financing group, was expected to take over from Wang Minsheng as CEO of Credit Suisse Founder Securities Ltd, with Wang to become vice-chairman of the joint venture.

Credit Suisse on Thursday confirmed both appointments and named Daniel Qiu, a veteran investment banker who joined Credit Suisse in 2010, to the newly created role of head of investment banking & capital markets for the joint venture.

In the role, Qiu would be responsible for driving growth initiatives for the joint venture’s underwriting and advisory business in China, while working with the Swiss bank’s own investment banking team in the region to create an investment banking platform for both onshore and international clients, Credit Suisse said.

Tu in his role would focus on aligning the joint venture with the bank’s broader strategy for Greater China and strengthening its capabilities, it said.

“Our securities joint venture is a key part of our strategy to build a leading wealth manager with strong investment banking capabilities in this key market,” the bank’s Asia-Pacific head, Helman Sitohang, said in a statement. “We aim to bring our comprehensive offshore capabilities to mainland China, capturing opportunities from the further liberalization of the domestic financial market.”

Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.