Posted inPeople Moves

Credit Suisse loses private bankers in Hong Kong

The recent departure of senior staff adds further strain to the embattled investment bank.
Zurich, Switzerland - May 18, 2011: The Credit Suisse logo hangs in the main entrance to the Credit Suisse building on the Paradeplatz in Zurich.

Credit Suisse has been hit by the departure of a number of senior bankers, according to a Bloomberg report.

The latest to leave is Young Jin Yee, the group’s deputy wealth management head for Asia, who is also the highest-ranking departure so far.

After about two decades of service, Young is reported to have resigned last week and may be heading to another firm.

She was promoted to the role in November last year and reports to Benjamin Cavalli, the regional head of private banking.

There were other resignations earlier, including managing director and China market leader Luke Chiu, who only joined the bank from the Bank of Singapore in late July last year.

It is reported that he will be joining BNP Paribas, but the French bank declined to comment when approached by FSA.

Director and team leader for China Nelson Hui and two relationship managers also jumped ship, the Bloomberg report said.

Steven Lau, director of the Hong Kong team, is also reported to have quit the Swiss bank for a rival firm.

Lau was just promoted to become the team leader for Hong Kong a year ago after working at the firm for five years. He has also worked at BNP Paribas and EY.

Credit Suisse did not respond to a request for comment.

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