Credit Suisse Group AG has set up a division offering family office services to high-net-worth clients in Greater China, Reuters reported May 17, citing a statement from the lender.

The unit is aimed at catering to rising demand among wealthy Asians looking to set up private investment vehicles and plan business succession, according to the report.

The bank has also appointed Tan Mae Shen head of the wealth planning services unit, to be based out of Hong Kong. Tan joined Credit Suisse in 2017.