Switzerland’s Credit Suisse has announced several new appointments in its Singapore country management team including a change to the Singapore CEO position.
With effect from January 1, 2017 Benjamin Cavalli is appointed as the Singapore Chief Executive Officer, in addition to his existing role as Head of Southeast Asia and Head of Singapore Location for Private Banking.
He will report to Francesco de Ferrari, Head of Private Banking Asia Pacific and CEO Southeast Asia. Cavalli takes over from Lito Camacho who will remain in his role as Vice Chairman 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 Switzerland, 15 of which were 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 the Corporate Functions to ensure that the requisite governance and control framework is in place for the bank’s business in Singapore.
New Deputy CEO and Branch Manager
Tan Kuan Ern, Head of Singapore Coverage, Investment Banking and Capital Markets (IBCM), is appointed to the additional role as Deputy Singapore CEO. He takes over this role from Edwin Low who remains as Co-Head of IBCM, Asia Pacific. Tan joined Credit Suisse in 2010 and has more than 16 years of investment banking experience.
Jacky Ang has been appointed to the role of Branch Manager for Credit Suisse AG Singapore Branch and Senior Corporate Officer for Credit Suisse (Singapore), in addition to his role as Chief Operating Officer, Singapore.
He takes over these two roles from Chien Chien Wong who was recently appointed Chief Operating Officer, Asia Pacific. Ang (pictured) 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 since 2012.
For Credit Suisse’s private banking business, Singapore is the largest booking center outside of its home base in Switzerland.
Singapore is also the hub of the bank’s market-leading Southeast Asian investment banking franchise, which offers a full suite of products and services across corporate advisory and capital raising, equities and fixed income for global and regional clients.