Chinese authorities have granted Credit Suisse licences to launch an onshore wealth management business. Credit Suisse Securities (China), the joint venture formed with local firm Founder Securities, is set to launch the offering within the first half of the year. Credit Suisse reached an agreement last September to take full control of the wealth business. The various licences will enable the firm to offer equity research and investment advisory services as well as proprietary trading and an extended brokerage service. “We are pleased to have received these licences as it marks a key milestone in offering wealth management services onshore in China, which is the fastest growing wealth market in the world,” said Edwin Low, Apac CEO at Credit Suisse. Low added that the firm plans to double the number of relationship managers working in onshore China. ©2023 funds global asia