Credit Suisse promotes Hu to China chief executive

Credit Suisse (CSGN.S) has appointed Janice Hu to become its China chief executive, according to a statement from the bank on Friday.

Hu will replace Zhenyi Tang who has taken a job out of financial services, the bank said, without identifying where he was going.

Tang was appointed to the job two years ago from CLSA.

Hu has been with Credit Suisse for 20 years and has served as the vice chairwoman of Credit Suisse China and head of China investment banking.

The bank last week renamed its mainland joint venture securities business to Credit Suisse Securities following its move to become a majority owner last year.

Hu was appointed as the chairwoman of the securities business last year.