People Moves

EXCLUSIVE: Credit Suisse Sees Asia-Pacific Private Banking Chairman Resign

Wendy Spires and Tom King 21 June 2013

EXCLUSIVE: Credit Suisse Sees Asia-Pacific Private Banking Chairman Resign

Marcel Kreis - Credit Suisse's chairman for private banking in the Asia-Pacific region - is to step down from his role, effective from the start of next month.

Credit Suisse is to bid farewell to Marcel Kreis, its chairman for private banking in the Asia-Pacific region, WealthBriefingAsia (sister publication to WealthBriefing) understands.

It is believed that Kreis will step down on 1 July; details of his next role have yet to emerge.

Kreis became Asia-Pacific private banking chairman at the start of 2012, having previously been head of the division. His successor in this role was Francesco de Ferrari, formerly head of private banking in Italy.

Kreis joined Credit Suisse from UBS in early 2007. At UBS he had been head of the bank’s wealth management franchise in Southeast Asia and the Pacific, which included Australia and onshore Japan.

Kreis, a veteran private banker in Asia, began his career at Citi and then went on to Merrill Lynch before joining UBS’ predecessor firm, Swiss Bank Corporation, in 1990.

Earlier this week news emerged that Anna Wong, market area head for Greater China at Credit Suisse, had resigned.

Tee Fong Seng, vice chairman for private banking in Asia-Pacific, will take on the roles of market area head for Greater China and head of private banking for Hong Kong. Based in Hong Kong, he will report functionally to de Ferrari and from a location perspective to Neil Harvey and Liping Zhang, co-chief executives for Greater China.

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