Credit Suisse Kwong Kin Mun
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more



This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion.










Credit Suisse Appoints Private Banking Leader Kwong Kin Mun as Vice Chairman of Southeast Asia & Wealth Management APAC, with the Merger of 2 Global Leaders in Wealth Management UBS & Credit Suisse to Create Enormous Potential for Clients and Private Bankers

23rd March 2023 | Singapore

Credit Suisse has appointed Kwong Kin Mun as the new Credit Suisse Vice Chairman of Southeast Asia & Wealth Management APAC, with the merger of 2 global leaders in Wealth Management (UBS & Credit Suisse) to create enormous potential for clients and private bankers.   Kwong Kin Mun is a veteran private banking leader (17 years), with 11 years at Deutsche Bank (Southeast Asia Head) and 6 years at DBS (South Asia Private Banking Head).  Credit Suisse Kwong Kin Mun: “Iron sharpens iron. The sparks from the merger of 2 global leaders in wealth management will create enormous potential for clients and private bankers. With questions on financial security out of the way, I look forward to working with a dedicated and experienced team of bankers to stabilize and grow the business as we move towards integration.”  UBS: “Now in Asia Pacific specifically with our strength in Hong Kong, Singapore and China. That will now be complemented by Credit Suisse’s leading position in Southeast Asia. Which part of our strategy was focused on. And basically we can accelerate our organic strategy here with inorganic opportunity, because that’s the strength of Credit Suisse.”  See below on UBS & Credit Suisse.  

“ Credit Suisse Appoints Kwong Kin Mun as Vice Chairman of Southeast Asia & Wealth Management APAC, with the Merger of 2 Global Leaders in Wealth Management UBS & Credit Suisse to Create Enormous Potential for Clients and Private Bankers “

 



- Article continues below -



Sign Up
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)


The 2024 Investment Day
6th March Hong Kong | 13th March Singapore

Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 6th March 2024 in Hong Kong, 13th March 2024 in Singapore.
Visit | Register here


The 2024 Family Office Summit
10th April Hong Kong | 24th April Singapore

Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2024 Family Office Summit | Register here





 

Credit Suisse Appoints Private Banking Leader Kwong Kin Mun as Vice Chairman of Southeast Asia & Wealth Management APAC

Credit Suisse Kwong Kin Mun

Credit Suisse has appointed Kwong Kin Mun as the new Credit Suisse Vice Chairman of Southeast Asia & Wealth Management APAC, with the merger of 2 global leaders in Wealth Management (UBS & Credit Suisse) to create enormous potential for clients and private bankers.   

Kwong Kin Mun is a veteran private banking leader (17 years), with 11 years at Deutsche Bank (Southeast Asia Head) and 6 years at DBS (South Asia Private Banking Head).  

 

 

UBS to Acquire 167-Year-Old Credit Suisse for $3.24 Billion with $5.4 Billion in Losses Guaranteed, UBS Bailout in 2008 by Swiss Government with CHF 20 Billion Losses

On 19th March 2023, UBS (the largest bank in Switzerland) has announced to acquire 167-year-old Credit Suisse for $3.24 billion (transaction to close end 2023) with $5.4 billion in losses guaranteed by Swiss Government in the latest casualty of the 2023 Banking Crisis (Silicon Valley & Signature Bank, First Republic Bank averted a collapse).   Over the last 3 years, Credit Suisse had been hit with numerous lawsuits and losses, including from $120 billion Archegos family office, $10 billion Greensill supply-chain fund and ongoing billion-dollar lawsuit by former Georgia Prime Minister Bidzina Ivanishvili for losing $1.27 billion & failing to safeguard his investments.  15 years ago in 2008, UBS was bailout by the Swiss Government ($6.1 billion, $66 billion in guarantee for bad securities) after recording CHF 20 billion losses (United States Subprime – Real Estate funds & derivatives), and subsequently investigated by United States authorities for helping American clients to evade tax.   Read: UBS to Acquire 167-Year-Old Credit Suisse for $3.24 Billion with $5.4 Billion in Losses Guaranteed, UBS Bailout in 2008 by Swiss Government with CHF 20 Billion Losses

Key Facts: On 19th March 2023 (Sunday), the Swiss Federal Department of Finance, the Swiss National Bank and FINMA have asked Credit Suisse and UBS to enter into the merger agreement.   UBS will be the surviving entity upon closing of the merger transaction.   All shareholders of Credit Suisse will receive 1 share in UBS for 22.48 shares in Credit Suisse as merger consideration. This exchange ratio reflects a merger consideration of CHF 3 billion for all shares in Credit Suisse.  Credit Suisse’s Additional Tier 1 Capital (deriving from the issuance of Tier 1 Capital Notes) in the aggregate nominal amount of approximately CHF 16 billion will be written off to zero.  For the purpose of a seamless integration of Credit Suisse into UBS, UBS is expected to appoint key personnel to Credit Suisse as soon as legally possible.  The merger is expected to be consummated by end of 2023.  Colm Kelleher will be Chairman and Ralph Hamers will be Group CEO of the combined entity.

Swiss Emergency Ordinance: In consideration of the unique circumstances affecting the Swiss economy as a whole, the Swiss Federal Council is issuing an emergency ordinance (Notverordnung) tailored to this particular transaction. Most importantly, the merger will be implemented without the otherwise necessary approval of the shareholders of UBS and Credit Suisse to enhance deal certainty.

 

Credit Suisse

Credit Suisse is one of the world’s leading financial services providers. The bank’s strategy builds on its core strengths: its position as a leading wealth manager, its specialist investment banking and asset management capabilities and its strong presence in its home market of Switzerland. Credit Suisse seeks to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. The bank employs more than 50,000 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.




Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.

Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more.  List hard-to-find financial & private wealth services.

Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]

Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?



Quick Links


2021 Data Release
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM


For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success

Register Below

For CEOs, Heads, Senior Management, Market Heads, Desk Heads, Financial Professionals, Investment Managers, Asset Managers, Fund Managers, Hedge Funds, Boutique Funds, Analysts, Advisors, Wealth Managers, Private Bankers, Family Offices, Investment Bankers, Private Equity, Institutional Investors, Professional Investors

Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.

Sign Up / Register


    InvestorProfessionalFamily OfficeExecutive


    SubscriptionMembershipEvents


    Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights










    Web links may be disabled on mobile for security.
    Please click on desktop.










    Caproasia Users

    • Manage $20 million to $3 billion of assets
    • Invest $3 million to $300 million
    • Advise institutions, billionaires, UHNWs & HNWs

    Caproasia Platforms | 11,000 Investors & Advisors

    Monthly Roundtable & Networking

    Family Office Programs

    The 2024 Investment Day

    • March 2024 - Hong Kong
    • March 2024 - Singapore
    • June 2024 - Hong Kong
    • June 2024 - Singapore
    • Sept 2024 - Hong Kong
    • Sept 2024 - Singapore
    • Visit: The Investment Day | Register: Click here

    Caproasia Summits

    Contact Us

    For Enquiries, Membership
    [email protected], [email protected]

    For Listing, Subscription
    [email protected], [email protected]

    For Press Release, send to:
    [email protected]

    For Events & Webinars
    [email protected]

    For Media Kit, Advertising, Sponsorships, Partnerships
    [email protected]

    For Research, Data, Surveys, Reports
    [email protected]

    For General Enquiries
    [email protected]





    Caproasia | Driving the future of Asia
    a financial information technology co.
    since 2014




    Previous articleSingapore MAS on Banks Tier 1 Capital: Intends to Follow Hierarchy of Claims in Liquidation Event, Shareholders Will Absorb Losses before Holders of Additional Tier 1 & Tier 2 Capital
    Next articleUnited States Fed Increases Interest Rate by 0.25% to 4.75% – 5% Range, Target Inflation at 2%
    Caproasia.com covering capital markets, investments and private wealth in Asia. Our users manage, advise & invest $25 trillion assets in Asia