Credit Suisse has appointed Zhenyi Tang, who was most recently Chairman of CLSA Limited in Hong Kong, as its new CEO China.
Based in Beijing, Tang will drive the execution of Credit Suisse’s strategy in China across its business and regulatory activities. He will have oversight of the bank’s onshore entities and report to Helman Sitohang, CEO Asia Pacific of Credit Suisse. Tang will join Credit Suisse this month and will be a member of the bank’s Asia Pacific Operating Committee.
His appointment follows Credit Suisse’s announcement in April of its plan to increase its stake in its onshore securities joint venture to 51%, subject to regulatory approvals, and the recent appointment of Shan Li to the board of directors of Credit Suisse Group AG. Li is the second Asia-based member of the board of directors, alongside Kai S. Nargolwala.
In the past eight years, Tang held various executive roles at CITIC Group in Beijing and Hong Kong, most recently as Chairman and Executive Committee member of CLSA Limited in Hong Kong, a wholly-owned subsidiary of CITIC Securities. Prior to joining CITIC Group, Tang spent 17 years at the Ministry of Finance of the People’s Republic of China, including a secondment to The World Bank working for the Executive Director for China.