Reuters
Exclusive-Embattled Credit Suisse aims to launch China wealth business next year
Credit Suisse, which has been buffeted by a string of scandals, management changes and global strategy rejigs, is still betting big on China and plans to launch a wealth business there next year, a senior Asia executive said. “In spite of all these rumours flying around that Credit Suisse is pulling back or pulling out of China, China is a long-term play for us,” Benjamin Cavalli, head of its Asia Pacific wealth management business, told Reuters in an interview. The bank aims to start offering wealth management services in China next year on the back of securing full ownership of its local securities venture, which is likely by the first quarter of next year, Cavalli said.
