Major Swiss bank Credit Suisse plans to start its wealth management business in China next year. “In spite of all these rumors flying around that Credit Suisse is pulling back or pulling out of China, China is a long-term play for us,” Benjamin Cavalli, head of the wealth management business in the Asia Pacific region, told Reuters news agency. The go-ahead should happen after the full acquisition of the Chinese securities joint venture is completed, Cavalli said. This is likely to be the case by the first quarter of 2023.
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