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Management changes at Swiss investment bank

Management changes at Swiss investment bank

(13 October 2017 – Global) Credit Suisse's head of investment banking in Australia and New Zealand is leaving the Swiss bank. The former UBS veteran had been with Credit Suisse less than two years.

Michael Stock was one of two high-profile hires for Credit Suisse late in 2015 from rival UBS. However, less than two years later, the he is departing the investment bank.

The Australian Financial Review said John Knox would take over responsibility for investment banking and capital markets oversight. A long-standing Credit Suisse investment banker, Knox was promoted to overall head of Australia for all the Swiss bank's businesses by Asia head Helman Sitohang shortly before Stock joined.

The bank has also formally announced senior changes in China and Hong Kong.

Credit Suisse is promoting its co-head of investment banking and capital markets in Asia, Mervyn Chow, to also become head of greater China. He will add the China job on top of his current role.

Also, the Swiss bank's head of financing in Asia, Carsten Stoehr, will join the board of Credit Suisse's subsidiaries in Hong Kong, where he is based.

The two executives start their new roles following the departure of Neil Harvey, head of Hong Kong and chairman of Greater China, who is retiring after 17 years at the bank.

Chow will run Credit Suisse’s overall strategy in China for private banking as well as investment banking. He will also lead the development of the bank's onshore franchise and be responsible for maintaining Chinese regulatory relationships.

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