Credit Suisse Warned by China Regulator to Fix Executive Exodus

(Bloomberg) — China’s securities regulator told Credit Suisse Group AG to fix the high turnover of senior executives at its securities venture before it will be allowed to roll out its new business on the mainland.

Nearly half the senior personnel at its China securities venture left in recent months, prompting the regulator to postpone an on-site inspection, Bloomberg News reported last week. That would have been the final step Credit Suisse needed before being allowed to start building out its wealth management business and expand equity trading services beyond Shenzhen into other cities.