Credit Suisse makes 3 leadership appointments for Apac as North Asia private banking head retires
CREDIT Suisse has made 3 leadership appointments in the Asia-Pacific (Apac), which take effect on Jan 1, 2022, subject to regulatory approvals.
This comes as the bank "embarks on executing its new strategic vision that pivots to faster growth in the Asia-Pacific", it said on Wednesday (Nov 17).
The appointments also follow the Dec 31 retirement of Francois Monnet, the head of private banking in North Asia and chief executive officer (CEO) for Credit Suisse Hong Kong branch, after a 14-year career with the bank.
The first of the new appointments is that of Benjamin Cavalli, who will head wealth management in Apac from the new year. He is currently head of private banking in South Asia, Singapore CEO and Apac sustainability leader.
In his new role, he will relinquish his responsibilities as Singapore CEO and take on CEO responsibilities for Credit Suisse's Hong Kong branch, based in Hong Kong. He will remain as Apac sustainability leader.
Since he joined the bank in 2009, he "has played a key role in asset growth for the bank's business, leveraging collaboration opportunities and driving profitable business growth in South-east Asia".
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The second new appointment puts Young Jinyee in the post of deputy head of wealth management in the Asia-Pacific, where she will work closely with Cavalli to accelerate wealth-management in region.
She will be based in Singapore and report to Cavalli. She is currently market group head for private banking in Singapore, Malaysia and South Asia Switzerland - a Zurich-based team serving clients in South Asia.
She is also currently CEO of Credit Suisse's SymAsia Foundation, which supports clients with their philanthropic needs and promotes philanthropy in Asia.
On top of her new appointment, Young will join the bank's key governance committees, including the Apac Operating Committee, where she will be the bank's third female member.
Lastly, Wong Chien Chien is appointed CEO for Credit Suisse in Singapore, the bank's first female CEO in the Republic, in addition to her current role as chief operating officer (COO) in Apac.
In her role, she will enhance the bank's market presence, promote collaboration for client solutions and business opportunities, drive strategy execution, strengthen people leadership, ensure a strong country governance framework and risk culture, and manage key regulatory relationships.
Having joined Credit Suisse First Boston in 1992, she is a veteran of the bank, and has had management roles in internal audit, legal and compliance, as well as COO responsibilities across investment banking and private banking in Singapore, Hong Kong and New York.
Helman Sitohang, Credit Suisse's CEO for Apac, said: "As we pivot to faster growth in the Asia-Pacific, with wealth management at the core of our success, the appointments of Benjamin, Jinyee and Chien Chien are a testament to our deep bench of talent and our commitment to build on the unique strengths of our integrated bank model."
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