Luke Chiu, a managing director and China market leader has resigned from the bank, according to people familiar with the matter who asked not to be identified discussing private information.

Nelson Hui, a director and team leader for China has also resigned, along with two relationship managers, the people said. A Credit Suisse spokesperson declined to comment as did Chiu. Hui couldn’t be reached for comment.

Steven Lau, a director on the Hong Kong team, resigned a few weeks ago and is joining a rival firm, people familiar with the matter said. This adds to the two senior private banker resignations last month.

Shares in the Swiss banking giant plummeted 12 percent to an all-time low on Monday after a weekend of fevered Twitter speculation about its financial health, before they regained almost all of the losses later in the day. That was accompanied by a spike in the cost to insure the bank’s debt against default, which jumped to its highest ever.

The bank is due to unveil an emergency strategic review on Oct. 27, which is expected to include a large-scale investment banking retreat. While it has outlined plans to expand its wealth unit by focusing on markets such as Hong Kong and Singapore, the bank has become a poaching ground for rivals amid the turmoil.

In the mainland, Credit Suisse has harbored ambitions to grow -- hiring private banker Wang Jing from China Merchants Bank Co. to develop its onshore wealth management business in 2020. But the bank has yet to obtain final approval to provide services to wealthy mainland China clients.

The bank last month said its partner in China agreed to sell its remaining stake in a local joint venture for 1.14 billion yuan (US$160 million), paving the way for the firm to take full control of the onshore securities operation.

The Zurich-based lender in June delayed the targeted launch of a locally incorporated bank in China by a year to 2024, people familiar said at the time.