HONG KONG : Credit Suisse has received regulatory green light from China after years of waiting to launch a full-fledged wealth management business in the world's second-biggest economy, according to a company memo reviewed by Reuters.
Credit Suisse Securities , the company's China joint venture, recently obtained an investment consultancy license, which allows it to create and distribute equity research products onshore and to engage in investment advisory services, according to the memo. Credit Suisse"plans to double the number of relationship managers in China in 2023," said Benjamin Cavalli, the company's head of wealth management for Asia Pacific, without providing details on how many relationship managers it currently has.
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