Credit Suisse Bolsters China Private Banking Team With Senior Hire

Vanessa Doctor

18 October 2013

, vice chairman and market area head for Greater China, private banking Asia-Pacific.

Luo was previously the managing director and head of the ultra high net worth management team at China International Capital Corporation Hong Kong Securities. In this role, she founded the firm's global private wealth management business. Prior to that, she was an executive director for the Hong Kong private wealth management division of Goldman Sachs.

In her new capacity, Luo will focus on driving business and client development, while continuing to hire and develop top talent for the Greater China team. In her added role as market manager for China, she will develop a designated strategy for the local market while working closely with Credit Suisse's investment banking business.

"Greater China is a key growth engine for our regional private banking business, and we are highly committed to expanding our Greater China PB franchise and continuing to build up our teams in the Hong Kong hub," said Tee in a statement.

The latest Global Wealth Report by Credit Suisse says that China will account for nearly 50 per cent of the increase in emerging economies' wealth. The report predicted that global wealth will rise by almost 40 per cent of the next five years to reach $334 trillion by 2018. Twenty-nine per cent of this growth is attributed to emerging markets.