Credit Suisse hires two for Asian expansion

Former Bear Stearns senior managing director Steven Kwok and Standard Charter Private Equity's ex-Korea chief, Sokho Jung, will spearhead the Swiss bank's private equity expansion into Greater China and Korea.

Credit Suisse Private Equity Asia has hired Steven Kwok and Sokho Jung as managing directors for Greater China and Korea.

Kwok joins from Bear Stearns Private Equity, now JPMorgan Private Equity following the sale of Bear Stearns to JPMorgan this March. At Bear Stearns he was a senior managing director and head of the Eagle China Retail and Consumer Fund. Before, Kwok was a managing director at Orchid Asia, a China-focused private equity fund. He was also previously the Hong Kong-based head of Greater China at financial firm UBS Capital and a vice president at The Carlyle Group.

Jung joins from Standard Chartered Private Equity, the private equity arm of the international bank, where he was head of its Korea operations from 2002. He also led the buyout practice, which covered Asian markets, in this position. Jung previously led the distressed asset investment team at Lone Star Advisors Korea, the Korean unit of the US buyout firm. Before that, he was a senior investment officer at GIC Special investment, the private equity division of GIC, Singapore’s largest sovereign fund.

Both Kwok and Jung will be based in Hong Kong and will be responsible for originating and advising private equity opportunities. They will report to Harjit Bhatia, head of Credit Suisse Private Equity Asia.

The Asia Pacific region continues to be an area of growth and focus for Credit Suisse and the appointments will strengthen its coverage of the region, said Bhatia in a statement.