Credit Suisse is poaching J.P. Morgan's long-standing compliance head in Asia, finews.asia has learned. The previous executive plans to leave the Swiss bank and return to Europe.
Hong Kong-based lawyer Peter Monaci is moving from J.P. Morgan to Zurich-based Credit Suisse, according to a memorandum seen by finews.asia.
Monaci, who has been head of compliance in Asia for the U.S. bank for the past five years, will take on the role of Chief Compliance Officer at the Swiss bank.
Hart Exits
He replaces Mark Hart, who had held the role for the past two years as well as the same role for Europe, the Middle East, and Africa previously. He is returning to Europe and leaving the bank.
Hart will manage the role during a transition until Monaci, who trained in criminology and law, joins Credit Suisse. Monaci's previous stints include Citigroup, UBS and Merrill Lynch.
