Credit Suisse Wins Licenses in China for Wealth and Brokerage Units

(Bloomberg) — Credit Suisse Group AG obtained licenses allowing it to launch its wealth management business in China in the first half of this year as well as expand its securities trading and research activities onshore.

The bank received its investment consultancy, proprietary trading and nationwide brokerage licenses, according to an internal memo. A spokeswoman for the bank confirmed the contents of the memo.