Credit Suisse Group AG named Ali Naqvi as sole head of global markets for Asia-Pacific as the investment bank moves to consolidate the management of its equities and fixed-income businesses in the region.
Naqvi’s appointment is effective from July 5, according to a memo seen by Bloomberg News, the contents of which were confirmed by Sheel Kohli, a Hong Kong-based spokesman for the firm. Naqvi will take over Credit Suisse’s Asia-Pacific fixed-income business, in addition to his existing responsibility as regional head of equities, the document showed.
He had previously been co-head of global markets in the region with Brian Yoon, who will step down from that role and as Asia-Pacific head of fixed income, the document shows. Yoon, an 18-year Credit Suisse veteran, will become an adviser on overall risk strategy, reporting to the firm’s regional Chief Executive Officer Helman Sitohang.
Naqvi has also been at the bank for 18 years. Under his leadership, the equities business has doubled its revenue, while the firm has become the No. 2 prime brokerage in Asia, Sitohang said in the memo.
The bank also appointed Ken Pang as head of global markets trading for the Asia-Pacific region, reporting to Naqvi, a separate memo showed. Pang joined Credit Suisse in 2009.