Credit Suisse Loses Two Senior Private Bankers in Hong Kong

Credit Suisse Group AG has lost two more senior private bankers in Hong Kong as attrition woes continue at the Swiss bank, according to people familiar with the matter.

(Bloomberg) — Credit Suisse Group AG has lost two more senior private bankers in Hong Kong as attrition woes continue at the Swiss bank, according to people familiar with the matter.

Mandy Loo, a managing director for the China market, and Howard Wu, a team leader for Greater China investment consultants, have both left the bank, said the people, asking not to be identified as they are not authorized to speak publicly. A Credit Suisse spokeswoman in Singapore confirmed the departures.

Loo has been with the firm for over a decade, while Wu joined Credit Suisse about 18 years ago, according to their LinkedIn profiles.

Credit Suisse has seen a slew of senior banker departures as it is undertaking a sweeping overhaul of its business following years of scandals and management missteps.

The new strategy includes plans to spin out its capital markets, advisory and leveraged finance businesses into a boutique unit under the Credit Suisse First Boston branding, while integrating its remaining trading businesses more closely with the wealth management business.

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