The Zurich-headquartered bank seeks to expand its onshore wealth management capabilities throughout the region.

tag|Credit Suisse">Credit Suisse has appointed Rick Meng as managing director and head of private banking, China, this publication can report.

Meng has more than 17 years of financial services industry experience across China, Hong Kong and the US.

Most recently, he was head of corporate coverage, China, and Shanghai branch manager for the Royal Bank of Scotland.

In these roles, he led a wide range of corporate banking business activities in China, focusing on both local and multinational corporates.

Primarily, his duties involved executing transactions across debt capital markets, loan syndication, acquisition financing, cash management and trade finance, in addition to building a broad client base and increasing cross-border connectivity. 

In his new role, Meng will focus on building a wealth management team based in Shanghai with the aim of expanding Credit Suisse's onshore client coverage and complementing its Private Banking Greater China franchise.

Additionally, he will collaborate with Credit Suisse's Greater China investment banking coverage team in order to identify business opportunities and cater to the international investment and corporate needs of the region's ultra-high net worth and entrepreneur clients.

The wealth management drive aims to capitalise on the company's existing capabilities within the Shanghai branch. 

Based in Shanghai, he will functionally report to Francois Monnet, Credit Suisse's head of private banking for Greater China, and locally to David Liu, Shanghai branch manager.

WealthBriefingAsia is awaiting confirmation as to whether Meng is taking on a newly-created role or replacing someone and will update accordingly.