Changes to Credit Suisse’s private banking business in Asia lead to further consolidation of product roles including the exit of its regional head of alternatives.
Donald Rice left Credit Suisse most recently as its Asia Pacific private banking deputy head of fund solutions and head of alternatives, an unnamed source told finews.asia. A spokesperson for the bank declined to comment on the matter.
Rice has 33 years of experience in financial services beginning in 1986 when he was involved in trading with Lehman Brothers in New York. He joined Credit Suisse 23 years ago already involved in its alternatives business, structuring, and marketing products for distribution.
Undergoing Reorganization
In his most recent role, Rice led a team that covered hedge fund, private equity, and real estate solutions. Following Rice’s exit, Salman Shah was appointed as head of alternative fund solutions, Singapore, the source continued.
The bank is undergoing reorganization this year following the formation of the North and South Asia private banking business in mid-2018, as finews.asia reported earlier.
New Role
In early 2019, the bank appointed Rodolphe Larqué as the APAC private banking head of managed solutions. In his new role, Larqué will have oversight of actively managed solutions in Hong Kong, Singapore, Japan, India, and Australia.
