Credit Suisse has hired Tsunehiro Watabe, former chairman of London-headquartered private equity firm CVC Capital Partners, as a senior advisor in Japan, according to a statement on Monday.
Watabe will be based in Tokyo and will work closely with Credit Suisse’s private banking, investment banking & capital markets (IBCM) departments to identify opportunities to deliver its integrated bank offering to clients, through its Trusted Entrepreneurs’ Bank, which aims to help entrepreneurs to grow and develop their businesses in the Asia Pacific region.
Watabe joins the firm from CVC, where he was chairman for seven years. Before joining CVC, he was vice chairman of Mitsubishi UFJ Morgan Stanley Securities and also had a nearly 40-year career spanning UBS Securities and the Long-Term Credit Bank of Japan, where he held senior leadership roles including as vice chairman. At UBS, he was responsible for building up the private banking practice for Japan and was involved in deals including the management buyout of Skylark, the merger of Hoya Corporation and Pentax, and Ricoh’s acquisition of Ikon Office Solutions.
Credit Suisse’s private bank in Japan operates from three key locations, Tokyo, Osaka and Nagoya.
The bank has set its sights on aggressive expansion in the Asia-Pacific region, announcing in 2016 it will invest as much as 900 million Swiss francs ($900 million; €822 million) in the region over the next three years.