About

Leading a team of six lawyers, David Chu is the managing director and head of Credit Suisse’s IBCM team in Asia Pacific, as well as the general counsel for Hong Kong. The team has four lawyers and one dedicated support staff based in Hong Kong and two lawyers and additional shared support based in Singapore. During the last 12 months, the team has dealt with some significant legal and regulatory affairs. In relation to Hong Kong, the Securities and Futures Commission (SFC) has continued to focus its attention on the standards adopted by firms in discharging their obligations when acting as sponsor in connection with IPOs on the main board of the Hong Kong Stock Exchange (HKEX). Credit Suisse is subject to comprehensive regulation and supervision and has continuously assessed and enhanced its standards in relation to acting as sponsor in these transactions. In respect of new initiatives, the team supported the first Hong Kong IPO with a weighted voting rights structure, the first undocumented convertible bond by a Chinese issuer, the first secondary listing under the updated Hong Kong listing regime (dual primary listing) and securities offerings from Pakistan and frontier markets such as Cambodia, Vietnam and Papua New Guinea. Commenting on expected challenges for the business and legal team, Chu states: ‘In an ever-increasing competitive and regulated industry and by way of example, the increasing influence of the local and regional financial institutions, the legal team must continue to keep abreast of evolving market practices and advise the business teams on both a strategic and holistic basis, so that the firm continues to operate in line with regulatory expectations, in compliance with laws and regulations, and exercise the right level of challenge and control’. With respect to the strategy of hiring and retaining legal talent in the team, Chu says: ‘Members of the team are encouraged to work on multiple types of transactions or products and from different jurisdictions. Accordingly, all members of the team cover and advise on the firm’s IBCM transactions across the Asia Pacific jurisdictions. We believe that by having the team structured in this way, it promotes not only the versatility, but also the career development of our team members as experienced and value-adding lawyers’. The team comprises individuals whose diverse mix of backgrounds and experiences contribute to the overall expertise and utility of the team. ‘This diversity provides us with a better understanding of our business’ needs, cultural aspects and regional markets. Our team’s inclusive approach also enables each of our team members to achieve their potential’, Chu adds. Having won multiple industry awards, the legal team is well recognised for its contribution to the sustainability, strength and long term success of Credit Suisse’s investment banking franchise in Asia. ‘Considering the volume and complexity of the business and transactions that we cover, we believe that we are a lean, efficient and highly skilled team of lawyers’, Chu says.