Stock Rising for Credit Suisse Investment Bank reported that Credit Suisse had added to its Investment Banking team in China. The Swiss bank is also steadily climbing in the global M&A league tables. What is it doing right? 

Honggui Li joined the Zurich headquartered bank as a Managing Director and Head of Investment Banking and Capital Markets (IBCM), China. He is one of several new recruits to the bank's Investment Banking division. In July Credit Suisse also made several senior appointments to its Shanghai and Beijing IBCM teams.

The Financial Times, (paywall), has reported that after a series of high profile scandals and losses the IBCM business is now stable and building a healthy momentum in several key markets. 

Asian Deal Flows

In China Credit Suisse advised ChemChina, which acquired Switzerland’s Syngenta for $46bn in the largest overseas deal to date by a Chinese company. The firm also played a key role in the listing of Jack Ma's Alibaba which earned the bank substantial fees. 

In Japan the bank appointed Koichi Ito as Managing Director, IBCM to spearhead the growth of the bank’s investment banking activities in the country. The bank executed a number of landmark transactions including the sale of US-based premium spirits company Beam Inc. to Suntory Holdings in a ground-breaking $16 billion acquisition, for which Credit Suisse acted as financial advisor to Beam. The transaction was named Japan Deal of the Year in 2015.

Australia Also Healthy

Under its new CEO Australia is developing very well this year too, according to Helman Sitohang Credit Suisse’s APAC CEO.

Sitohang charged local boss John Knox with making high-profile hires. Former UBS banker Michael Stock joined to head the investment bank, while Jean du Plessis runs the financial institutions group. 

Paying to Play

«Investment banking fees are down in Australia but we are up – and that is the case in APAC as well,» Sitohang recently commented.

There is talk that the bank has been overpaying to attract new talent into its IBCM division with so called «special bonuses» being paid to bankers in the U.S. based M & A teams and new junior hires being offered double pay to move to the bank. The bank did not comment on this.

One Bank Model

Credit Suisse operates as an integrated global bank, combining its strengths and expertise in the two global divisions, Private Banking & Wealth Management and Investment Banking.

Therefore the bank utilises its ability to play adviser and financial supporter of a deal at the same time. In Asia where the majority of businesses are family run this model has gone down well.



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