HSBC hires Credit Suisse’s Hong Kong-based Christopher Chua to head its Asia M&A business
- Chua was named as managing director and deputy head of M&A for Asia-Pacific at Credit Suisse in September last year
- The Swiss bank is also exploring a sale of the Mandarin Oriental Savoy Zurich
Chua, a Hong Kong-based managing director and deputy head of M&A for Asia-Pacific at Credit Suisse, has resigned from the bank, according to the people, who asked not to be identified discussing confidential information.
A representative for Credit Suisse could not immediately provide comment, while a spokesperson for HSBC did not respond to requests for comments. Chua declined to comment.
Chua was appointed to his role at the Swiss bank in September last year, adding to his job as Greater China head of M&A. The appointment at the time was part of a reorganisation of the firm’s investment-banking team in the region amid an effort to drive growth.
Credit Suisse has become a poaching ground for rivals in recent times, with the lender struggling to contain the fallout of a series of scandals and flagging performance. It’s due to unveil a strategic review this month that is expected to include a large-scale investment-banking retreat.
Its wealth business in Asia has also been rocked by high-level departures recently, the latest being its deputy wealth management head for the region who is leaving after about two decades with the bank.