UBS Hires Former Credit Suisse China Chief Janice Hu as China Vice Chair
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UBS Group AG has named Janice Hu, the former China chief of Credit Suisse, as vice chair of its securities venture in China.
Hu is the first vice chair of UBS Securities Co. Ltd., a Beijing-based investment bank and brokerage unit majority owned by UBS, as the company did not have such a position before, Caixin learned.
The appointment comes as UBS agreed to sell the majority of its stake in Credit Suisse’s China venture to a Beijing-backed fund following its acquisition of its Swiss rival last year. The stake sale is to comply with Chinese rules that prevent a foreign shareholder holding majority stakes in more than one domestic brokerages at the same time.
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- Janice Hu, former China chief of Credit Suisse, has been named vice chair of UBS Securities Co. Ltd.
- UBS sold a 36.01% stake in Credit Suisse Securities for $91.4 million to comply with Chinese rules, retaining 15%.
- Hu's long tenure at Credit Suisse saw her in senior roles, including vice chairwoman and CEO of Credit Suisse China.
- UBS Group AG
- UBS Group AG is a Swiss multinational investment bank and financial services company. It named Janice Hu as vice chair of its Beijing-based unit, UBS Securities Co. Ltd. The move follows UBS's sale of a majority stake in Credit Suisse’s Chinese venture to comply with local regulations. Hu previously held several leadership roles at Credit Suisse, where she boosted its influence in China.
- UBS Securities Co. Ltd.
- UBS Securities Co. Ltd. is a Beijing-based investment bank and brokerage unit majority-owned by UBS. It has named Janice Hu as its first vice chair. The firm is involved in investment banking and brokerage services, and UBS recently agreed to sell the majority of its stake in Credit Suisse's China venture to comply with Chinese regulations against holding majority stakes in more than one domestic brokerage simultaneously.
- Credit Suisse Securities (China) Ltd.
- Credit Suisse Securities (China) Ltd. is the Chinese division of the Swiss bank Credit Suisse. Janice Hu was chairwoman in 2020 and became the China chief executive in 2021. During her tenure, she enhanced the company’s regional influence and managed integration with UBS's China operations. UBS recently agreed to sell a 36.01% holding in Credit Suisse Securities to Beijing State-owned Assets Management Co. Ltd., retaining a 15% stake.
- Beijing State-owned Assets Management Co. Ltd.
- The article mentions that Beijing State-owned Assets Management Co. Ltd. is the entity acquiring a 36.01% stake in Credit Suisse Securities for $91.4 million following UBS's stake sale. This action is in compliance with Chinese regulations preventing a foreign shareholder from holding majority stakes in more than one domestic brokerage at a time.
- 2001：
- Janice Hu joined Credit Suisse.
- 2020：
- Janice Hu was appointed chairwoman of Credit Suisse Securities (China) Ltd.
- 2021：
- Janice Hu became China chief executive of Credit Suisse.
- June 2024：
- UBS agreed to sell a 36.01% holding in Credit Suisse Securities for $91.4 million to Beijing State-owned Assets Management Co. Ltd., retaining 15% after the sale.
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