Credit Suisse Appoints New Singapore Head
With effect from January 1, the Zurich-based bank appointed Benjamin Cavalli as the Singapore head, in addition to his existing role as head of Southeast Asia and head of private banking in Singapore.
He will report to Francesco de Ferrari, (pictured below), who runs Credit Suisse's private banking operations in Asia and is CEO for Southeast Asia. Cavalli takes over from Lito Camacho who will remain in his role as vice chairman for Asia Pacific, the bank said in a statement today.
Cavalli has been with Credit Suisse since 2009 and has over 20 years’ experience in both wealth management and investment banking across Asia and in Switzerland, 15 of them in senior management roles based in Singapore.
As Singapore CEO, Cavalli will work closely with relevant business heads in Singapore to support the bank’s business and client strategy to ensure it builds a sustainable and profitable franchise. He will also work with Credit Suisse's corporate functions to ensure governance and controls for the bank’s business in Singapore, where private banking has been roiled by the corruption scandal surrounding Malaysian 1MDB.
New Deputy CEO and Branch Manager
The bank also appointed Tan Kuan Ern, (pictured below) as head of Singapore coverage for investment banking and capital markets, or IBCM, as well as Deputy Singapore CEO. He takes over this role from Edwin Low who remains as co-head of IBCM for Asia Pacific. Tan joined Credit Suisse in 2010 and has more than 16 years of investment banking experience.
Jacky Ang has been appointed branch manager in Singapore, and senior corporate officer for, in addition to his role as operating chief for Singapore.
He takes over these two roles from Chien Chien Wong, who was recently promoted to operating chief for the wider region. Ang (pictured below) has been with Credit Suisse for 19 years and has been COO Singapore since 2015, as well as the Singapore deputy branch manager and deputy senior corporate officer for the past five years.
For Credit Suisse’s private banking business, Singapore is the largest booking center outside of its home base in Switzerland. It is also the hub of the bank’s Southeast Asian investment banking franchise.
