Stoehr the most senior of Credit Suisse’s Asia exodus
The Greater China CEO represents a loss of seniority, experience and gravitas. And his is not the only exit from the Swiss bank’s Asia operations.
Carsten Stoehr has become the latest, and most important, of a wave of departures from Credit Suisse in Asia.
Stoehr’s affiliation with the Swiss bank began back in 1994, although he did leave for a time; upon his 2016 return he became a key fixture of the bank’s Asian operations. He was made the head of the financing group for Asia Pacific, a newly created role that roughly coincided with Asia Pacific becoming a standalone unit of Credit Suisse.
Under Stoehr’s leadership the new division grew to become an impressive force in clever and bespoke dealmaking.
We remain fully committed to the region with a differentiated value proposition
He then went on to become the chief executive for Greater China after Mervyn Chow left for Hillhouse Capital. Stoehr was also the chair of two of the bank’s legal entities in Hong Kong, for banking and securities.
Stoehr, who will finish up tomorrow, Friday December 16, departs the bank at a time of crisis. In October, Credit Suisse announced a radical overhaul including the axing of 9,000 staff worldwide over three years, 2,700 of them right now, as well as the raising of around $4 billion in new capital.