Credit Suisse appoints new Singapore CEO

The new Credit Suisse CEO, Mr Cavalli, retains his role as the head of South-east Asia and head of Singapore location for private banking.
The new Credit Suisse CEO, Mr Cavalli, retains his role as the head of South-east Asia and head of Singapore location for private banking.

Credit Suisse has made several management changes here.

Mr Benjamin Cavalli was appointed the bank's Singapore chief executive on Jan 1, taking over from Mr Lito Camacho, who remains as Asia-Pacific vice-chairman.

Mr Cavalli, who has been with Credit Suisse since 2009, retains his role as the head of South-east Asia and head of Singapore location for private banking.

Mr Tan Kuan Ern has been named deputy Singapore CEO, taking over from Mr Edwin Low.

The new position was added to Mr Tan's current role as head of Singapore coverage for investment banking and capital markets (IBCM). Mr Low remains the IBCM co-head for Asia-Pacific.

Singapore chief operating officer Jacky Ang has taken up the additional roles as the branch manager for Credit Suisse's Singapore branch and senior corporate officer.

Mr Ang took over these two roles from Ms Chien Chien Wong, who was recently appointed as Asia- Pacific COO.

Credit Suisse hires around 4,000 employees in Singapore, which is its biggest booking centre for the private banking business, outside home market Switzerland.

The private banking team here covers businesses in Singapore, South-east Asia and China, a region where Credit Suisse managed about 169 billion Swiss francs' (S$237.4 billion) worth of client assets as at the third quarter of 2016.

Meanwhile, Deutsche Asset Management announced yesterday that Ms Petra Pflaum has been named the chief investment officer for responsible investments, effective immediately. Ms Pflaum, who has been with the firm since 1999, will continue in her role as the equities head for Europe, Middle East and Africa.

A version of this article appeared in the print edition of The Straits Times on January 05, 2017, with the headline 'Credit Suisse appoints new Singapore CEO'. Print Edition | Subscribe