Credit Suisse has unveiled its new head of wealth management for Asia Pacific, according to an internal memo seen by finews.asia.
Former head of private banking South Asia and Singapore CEO Benjamin Cavalli has been named head of wealth management APAC, according to an internal memo seen by finews.asia, subject to regulatory approval.
He will also relocate to Hong Kong and take on the additional role as chief executive of the branch, replacing Francois Monnet who will retire from the bank, effective December 31.
The 63-year old Monnet, who is also the North Asia head of private banking, had informed Credit Suisse earlier this year of his departure after 14 years with the bank.
New WM Leaders
Cavalli will no longer be Singapore branch CEO and the role will be succeeded by Chien Chien Wong who also retains her existing role as APAC chief operating officer. Ex-market group head for Singapore and Malaysia Jinyee Young was also appointed to the new role of deputy head of wealth management APAC, reporting to Cavalli. Young will also join Credit Suisse’s key governance committees including the APAC operating committee.
Both roles are still subject to regulatory approval.
«As we pivot to faster growth in Asia Pacific, with wealth management at the core of our success, the appointments […] are a testament to our deep bench of talent and our commitment to build on the unique strengths of our integrated bank model,» said APAC CEO Helman Sitohang.
A spokesperson for the bank confirmed the retirement and new appointments.
