Credit Suisse (CSGN.S) has received regulatory green light from China after years of waiting to launch a full-fledged wealth management business in the world’s second-biggest economy, according to a company memo reviewed by Reuters.The expansion comes after the lender suffered worse-than-expected global wealth outflows of 92.7 billion Swiss francs ($98.29 billion) in the fourth quarter.
Source: Credit Suisse obtains key approval to launch wealth business in China | Reuters