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HONG KONG, June 3 (Reuters) – Credit Suisse announced Monday that it has hired former CLSA chairman Tang Zhenyi as general manager of its China operations.
Tang will join Credit Suisse this month to oversee its operations in mainland China, the bank said in a statement.
In March, Tang left CLSA, the Asia-based brokerage firm, bought by CITIC Securities in 2013 and backed by the Chinese state.
His departure was followed by that of other senior members of CLSA, including CEO Jonathan Slone.
Credit Suisse plans to increase its stake in its China Securities onshore joint venture to 51 percent, subject to regulatory approval, the bank said in April.
Prior to his eight years at CITIC and CLSA, Tang worked for 17 years at the Chinese Ministry of Finance.
Report by Alun John; Edited by Rashmi Aich
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