Credit Suisse Receives Approvals from Regulators to Run Wealth Business in China

Credit Suisse has received approvals from Chinese regulators to run its wealth management business in China, after decades of waiting, as per Table China. Credit Suisse Securities (China), the group’s China joint venture, was granted licenses for investment consultancy, proprietary trading and nationwide brokerage services, as per the bank’s source. In contrast to the group’s massive layoff in 2022, Credit Suisse intends to double the headcount of relationship managers in China in this year, as per Benjamin Cavalli, head of wealth management APAC.

Credit Suisse bonds were trading stable with its 9.75% Perp at 87.8, yielding 13.6%.

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