Taking up his new job at the start of August, Mr Tee will be based in Singapore and will report to Marcel Kreis, head of private banking Asia Pacific. Mr Tee will be responsible for the bank's ultra high net worth clients and will also help develop the strategy and development of the UHNW client segment in Asia Pacific.

Previously, Mr Tee was head of wealth management for Southeast Asia and deputy branch manager at UBS Singapore. He has worked in the global banking industry for more than 30 years.

Credit Suisse has recruited a number of senior wealth management executives from its Swiss rival. For example, the bank in May said it recruited Steve Griffiths to the new post of managing director, UK planning from UBS, where he was head of UK wealth planning. In another move, Blake Shorthouse, a former deputy head, global key clients at UBS, left to join Credit Suisse to be head of its ultra high net worth clients unit for the Europe, Middle East and Africa region.

In its statement, Credit Suisse said Mr Tee also sits on the Financial Industry Competency Standards Steering Committee of the Institute of Banking and Finance in Singapore.