Credit Industriel et Commercial, the large French bank, has named a managing director, private banking in Singapore, this publication exclusively report.

Credit Industriel et Commercial, the French banking group, has appointed Bruno Morel to managing director, private banking, Singapore, this publication can exclusively reveal.

In his new capacity, Morel will oversee the South and Southeast Asia region, while Tim Lo is head of North Asia.

Morel takes over from Paul Kwek, who has been with the bank for more than seven years “developing the CIC Banque Privée team in Asia”, according to the firm.

A CIC spokesperson based in Asia told WealthBriefingAsia that Kwek is “due for retirement”; however he will retain a position as a senior advisor to CIC management for an additional 12 months “in order to facilitate the transition with clients and business partners”.

Morel has over 18 years of banking experience in Singapore, 14 of which are with CIC, according to the firm. Within the CIC group, he has previously held positions including head of private banking product teams, forex trader, head controller of market activities and fund manager. Prior to joining CIC, Morel was also head of private banking product teams at ABN AMRO, CIC said.

Meanwhile, Kwek, a veteran in private banking, previously worked at Citibank, Republic Bank of New York, HSBC and Credit Suisse, CIC said.