Credit Suisse has bolstered its Chinese operations with three senior appointments to its investment banking and capital markets (IBCM) team in China – Li Ping, Summer Xia, and Ma Jie are all coming over to the lender in new roles, according to a Reuters statement.
Credit Suisse has been a notable departure from a number of other leading lenders in Europe and Asia, namely as they have largely abstained from sweeping job cuts to their operations. The majority of losses in the financial industry have resulted in backoffice or technology jobs being axed, though fixed income and foreign exchange (FX) desks have also faced stark losses as well.
Credit Suisse’s latest efforts however illustrate the lender’s growth in China, with respect to the capital markets industry, a point of emphasis from many banks in 2016.
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Li Ping will be joining the lender’s IBCM team, having formally served as the joint Head of Corporate Coverage at Deutsche Bank’s capital markets and solutions unit in Beijing. In her new role she will be leading the IBCM team as its Managing Director in Credit Suisse’s Shanghai unit.
Summer Xia comes over to Credit Suisse from China International Capital Corp., stepping into the role as the bank’s chief Beijing representative. Ma Jie, also previously from Deutsche Bank, will be joining Credit Suisse’s Shanghai team.
According to a recent Credit Suisse statement: “In this newly created role, Ms. Li will be responsible for expanding Credit Suisse’s onshore client coverage capabilities in China, as well as building Credit Suisse’s financing franchise.”