Thursday, 25 August 2016
Last updated 7 hours ago
Jan 19 2010 | 1:53pm ET
Credit Suisse is set to boost its prime brokerage business in Asia, and has hired a former Goldman Sachs executive to join its capital introduction team.
The Swiss bank said it plans to increase the size of its Asia prime brokerage by 15% to 20%. The firm currently employs about 100 people in that business, Reuters reports.
The newest member of that team is Deborah Lee, who was named a director in Credit Suisse’s capital services team. Lee left Goldman Sachs a year ago after spending a year on its capital introduction team. A 10-year industry veteran, Lee worked at New York-based Channel Capital Group before joining Goldman.
Credit Suisse will focus on building up its cap. intro. and consultancy services, Reuters reports.
Separately in the region, Credit Suisse has hired a founder of hedge fund Bennelong Asset Management to focus on emerging markets for its asset management business. Neil Harvey was named head of Asia-Pacific and head of emerging markets, based in Hong Kong.
“Developing the Asia-Pacific region and building out our global emerging markets’ offerings and clients is core to asset management’s growth strategy across our division and businesses,” Robert Shafir, CEO of Credit Suisse Asset Management, said.
Harvey was a founding partners of Asia-focused multi-strategy shop Bennelong. He returns to Credit Suisse—where he spent 10 years in investment banking before leaving to set up Bennelong in 2003—from the Renaissance Group, where he was deputy CEO.