HONG KONG Oct 11 Credit Suisse has
hired Honggui Li as China investment banking and capital markets
head from its Swiss rival UBS Group as part of its push
to boost presence in the world's second-largest economy, said an
internal memo seen by Reuters.
Li will be responsible for strengthening Credit Suisse's
China corporate coverage, coordinating its onshore investment
banking operations and working closely with other Asia Pacific
departments on business opportunities, the memo said.
Having joined UBS in 2006, Li's latest role at the bank was
deputy head of China in the bank's corporate client solutions
department, the note said, adding he will report into Credit
Suisse Asia Pacific co-heads for investment banking and capital
markets Mervyn Chow and Edwin Low.
A Credit Suisse spokeswoman confirmed the content of the
memo, while a UBS spokesman declined to comment.
Credit Suisse's bigger push into China comes at a time when
a pickup in onshore equity and bond issuance there is helping
the nation's home-grown investment banks grab a bigger share of
the fee pool.
Credit Suisse Chief Executive Tidjane Thiam said in April
this year that the investment bank was eyeing a bigger China
presence and would continue to invest in a country where it had
(Reporting by Sumeet Chatterjee; Editing by Muralikumar