Credit Suisse Group has hired Steven Kwok and Sokho Jung as managing directors of private equity in Greater China and South Korea respectively, the company said in a press release yesterday, without disclosing when Kwok and Jung will start their new roles.
Kwok used to work as the senior managing director of Bear Stearns private equity and Jung was formerly head of South Korea at Standard Chartered’s private equity business.
Based in Hong Kong, both will report to Harjit Bhatia, head of Credit Suisse private equity Asia, the group’s release said.
Prior to Bear Stearns, Kwok was a managing director at Orchid Asia, a Chinese private equity fund focusing on minority stake investments. Prior to that, Kwok was the head of UBS Capital Greater China and focused on growth capital investments.
He also worked at the Carlyle Group in Asia and at Salomon Brothers in New York.
Kwok is a native of China and earned his MBA from the University of Chicago Graduate School of Business.
Jung advised Lone Star Advisors Korea, a unit of Lone Star Funds, on distressed asset investments and has worked for Government of Singapore Investment Corp as a senior investment adviser.
Credit Suisse Private Equity is part of the company’s US$155 billion Alternative Investments arm.
Among the rows of vibrators, rubber torsos and leather harnesses at a Chinese sex toys exhibition in Shanghai this weekend, the beginnings of an artificial intelligence (AI)-driven shift in the industry quietly pulsed. China manufactures about 70 percent of the world’s sex toys, most of it the “hardware” on display at the fair — whether that be technicolor tentacled dildos or hyper-realistic personalized silicone dolls. Yet smart toys have been rising in popularity for some time. Many major European and US brands already offer tech-enhanced products that can enable long-distance love, monitor well-being and even bring people one step closer to
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