Sumitomo Mitsui Banking Taps Former Credit Suisse Banker for Asia Pacific Role

By Tracy Qu

Sumitomo Mitsui Banking is tapping a former Credit Suisse banker to oversee its structured lending and private wealth business in Asia Pacific.

SMBC, owned by Sumitomo Mitsui Financial Group, said Tuesday that it has appointed Carsten Stoehr as managing director and deputy head of Asia Pacific. He will join the Japanese bank starting Feb. 19 and will be based in Singapore.

Stoehr has spent over 25 years with Credit Suisse and was recently managing director and Greater China chief executive. In this role, he led Credit Suisse's business across Greater China, spanning investment banking, wealth management and asset management.

"As we enhance our regional and global platforms, our focus is to continue to provide bespoke and market-leading solutions to financial sponsors, corporates and private wealth clients," Yuichi Nishimura, SMBC managing executive officer and co-head of Asia Pacific, said.

SMBC has been hiring people in the region to tap the growing Asian market, especially in private wealth and trading.

Late last year, the bank appointed Jeff Ng to head its Asia macro strategy for its global markets and treasury business.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

February 05, 2024 22:46 ET (03:46 GMT)

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