© Reuters. FILE PHOTO: A signboard of Sumitomo Mitsui Banking Company is seen by means of bushes in Tokyo, Japan, November 12, 2015. REUTERS/Yuya Shino
SYDNEY (Reuters) – Japan’s Sumitomo Mitsui (NYSE:) Banking Corp (SMBC) stated on Tuesday it has employed former Credit score Suisse China boss Carsten Stoehr as its deputy head for the Asia Pacific area.
Stoehr had been with Credit score Suisse for greater than 25 years earlier than its compelled merger with rival UBS in March final 12 months.
Most lately, he was the financial institution’s CEO for the Better China area, which lined funding banking, wealth and asset administration.
SMBC is the primary banking unit of Sumitomo Mitsui Monetary Group .
Stoehr will oversee SMBC’s structured lending and personal wealth companies throughout the APAC area primarily based in Singapore, the financial institution stated in a press release.
He’ll report back to SMBC’s regional co-heads Yuichi Nishimura and Rajeev Kannan.