Credit Suisse appoints Zhenyi Tang as CEO China

Mr. Tang joins Credit Suisse with substantial experience building businesses in China and enhancing connectivity between China and international markets. Based in Beijing, Mr. 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. Mr. 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. Mr. Li is the second Asia-based member of the Board of Directors, alongside Kai S. Nargolwala.

Mr. Sitohang said: “We welcome Zhenyi to Credit Suisse. He will further develop our integrated franchise in China as the Bank for Entrepreneurs, and build our onshore presence for future growth. Zhenyi’s deep experience in China and his success in different organizational cultures is a strong addition to our team.”

Tidjane Thiam, Chief Executive Officer of Credit Suisse, added: “Zhenyi joins a long-standing Credit Suisse relationship with China and a key opportunity for the bank. He will further our strategy as a leading global wealth manager with strong investment banking capabilities. We remain committed to enabling the development of wealth and financial markets in China.”

In the past eight years, Mr. 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, Mr. 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.

Credit Suisse was the first bank from Switzerland to establish a branch in China with the opening of itsitsdit Suisse’ Shanghai Branch in 1994. It has a strong Greater China franchise, with market-leading capabilities in equities, investment banking and capital markets, private banking, and financing. In addition to its securities joint venture in China, Credit Suisse also has an asset management joint venture, ICBC Credit Suisse Asset Management Co. Ltd., which is among the largest in China with total assets under management of nearly RMB 1.3 trillion (CHF 194 billion), as of the end of December 2018.

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ’Credit Suisse’). 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 46’200 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.