Credit Suisse appoints new Singapore CEO, makes other management changes

CREDIT Suisse is making changes to its management team in Singapore.

In an announcement on Wednesday, the Swiss bank said that Benjamin Cavalli, head of Southeast Asia and head of Singapore for private banking, has been appointed as its Singapore CEO.

Mr Cavalli replaces Lito Camacho, who will remain as vice-chairman for Asia Pacific. Mr Cavalli will report to Francesco de Ferrari, the bank's Asia Pacific private banking head and Southeast Asia CEO.

At the same time, Tan Kuan Ern, who is now head of Singapore Coverage, Investment Banking and Capital Markets (IBCM), will take over Edwin Low as deputy Singapore CEO. Mr Low remains co-head of IBCM in Asia Pacific.

In addition, the bank has appointed Jacky Ang as branch manager for Credit Suisse AG Singapore Branch, and senior corporate officer for Credit Suisse (Singapore) Limited, on top of his current position as chief operating officer in Singapore. Mr Ang succeeds Chien Chien Wong, who was recently appointed chief operating officer for Asia Pacific.

Singapore is the largest booking centre outside of Switzerland for Credit Suisse's private banking business. It is also a hub for the bank's investment banking franchise in South-east Asia.