October 19, 2021

Credit Suisse Boosts Asia Hiring to Tap Fast Growing Markets

Credit Suisse Group AG has boosted its headcount by more than 100 across Asia-Pacific this year as the Swiss lender seeks to increase the share of revenue it draws from the region’s fast-growing markets.

Almost half of the net hires were done since mid-March, according to people familiar then matter, a period during which the bank has grappled with the fallout from its ties to collapsed family office Archegos Capital Management and supply chain financier Greensill Capital. The number excludes its India operations and information-technology center, the people said, asking not to be named discussing hiring.

Chief Executive Thomas Gottstein has said growth in Asia-Pacific was strong during a quarter when the lender was pushed into the red by a $4.7 billion hit from the Archegos debacle, which also prompted the ouster of a string of senior executives….

Read full article…