Credit Suisse has made high level appointments in Singapore that includes Benjamin Cavalli as the bank’s new Singapore CEO along with Tan Kuan Ern as the Head of Singapore Coverage, Investment Banking and Capital Markets and Jacky Ang as Branch Manager in Singapore.
Announcing the appointments on Thursday, the Swiss financial services firm said that the new appointments in its Singapore country management team were in effect from January 1, 2017.
The new CEO Benjamin Cavalli who takes over from Lito Camacho, holds an 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. Camacho will remain in his role as Vice Chairman Asia Pacific.
For Credit Suisse’s private banking business, Singapore is the largest booking center outside of its home base in Switzerland.
“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,” Credit Suisse said in a statement on its website.
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.
Cavalli who has been with Credit Suisse since 2009 has over 20 years of experience in both wealth management and investment banking across Asia and Switzerland, 15 of which were in senior management roles based in Singapore.
In another appointment, Tan Kuan Ern appointed as the head of Singapore Coverage, Investment Banking and Capital Markets (IBCM), holds an additional role as Deputy Singapore CEO.
He took 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.
Further, Jacky Ang was appointed as Branch Manager for Credit Suisse AG Singapore Branch and Senior Corporate Officer for Credit Suisse (Singapore) Ltd. He holds an additional 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 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.
With a presence in Singapore for over 40 years, Credit Suisse has built up its presence in Singapore to become a major regional hub and one of its largest locations globally.
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.