A Credit Suisse top manager with a long track record in Asia has been promoted to a new position. The bank also plans a major change at the top of private banking in Australia.
François Monnet, chief operating officer for private banking in Asia will take responsibility for the Greater China region of Credit Suisse, according to a report by «Asian Private Banker» (by subscription only). The manager, who joined Switzerland's second-biggest bank in 2007 will take charge of China, Hong Kong and Taiwan starting in January 2016.
Monnet replaces Tee Fong Seng, who was appointed chief executive of private banking in Hong Kong and assume the title of vice chairman private banking in the Asia Pacific region.
Appointment in Australia
The promotion will be a great challenge for Monnet. The former manager at UBS has a long track record in Asian banking and worked as COO private banking for the Asia Pacific region since April 2012.
As COO Monnet was responsible for the daily business and investment in the bank's infrastructure, risk control, pricing and strategy. He also oversaw the development of the digital services for private banking clients in Asia as he told finews.ch earlier this year.
Credit Suisse also appointed Alex Wade head of private banking in Australia. He will replace Edward Jewell-Tait, who retires. Wade takes charge at the beginning of 2016.
