Credit Suisse appoints new private wealth heads in Australia and Greater China
(3 December 2015 – Australia/Asia) Credit Suisse has announced the appointment of two new private-banking heads Australia and Greater China.
From the beginning of 2016, Alex Wade will lead the business in Australia, according to an internal announcement Tuesday that was confirmed to the media. The announcement also named Francois Monnet as the new firm’s head of Greater China private banking. Monnet will be promoted from his current position as chief operating officer for Asia-Pacific private banking, while Wade is the regional chief of staff in the division.
Wade will work out of Sydney and report to both de Ferrari and Australia CEO John Knox. His appointment follows the retirement of Edward Jewell-Tait, the Swiss bank said.
Monnet will take over as Greater China head from Tee Fong Seng, according to the announcement. He will be based in Hong Kong, reporting to Francesco de Ferrari, head of Asia-Pacific private banking.
According to Credit Suisse, its private-banking business in Asia Pacific had 133 billion Swiss francs (A$180 billion) of client assets under management as of September. It said that amount had grown more than 60 percent from 2011 to 2014.
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