Credit Suisse takes majority holding in China securities JV

Credit-SuisseCredit Suisse has become the majority shareholder in its Chinese securities joint venture, Credit Suisse Founder Securities (CSFS). The bank increased its shareholding in its onshore operation from 33.3% to 51% and joins the likes of JP Morgan and UBS in securing majority ownership of Chinese securities joint ventures. Goldman Sachs and Morgan Stanley also received regulatory approval in March 2020. Credit Suisse was granted approval for a majority shareholding in CSFS in April by the China Securities Regulatory Commission (CSRC).   As part of the development of its onshore strategy and business plans, CSFS has appointed Janice Hu as its chairwoman. Hu brings nearly 20 years of experience to the role. Prior to the appointment, she served as the vice chair for Credit Suisse China. © 2020 funds global asia

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