Marcel Kreis, head of private banking for Asia Pacific at Credit Suisse – and a former senior UBS executive – will take on the added role as Private Bank chief executive for Hong Kong. Kreis “will be spending a significant amount of time in Hong Kong until a suitable permanent appointment is made,” a Credit Suisse spokesperson said.

“Due to the importance of Singapore as a wealth management centre and due to his main responsibility as head of private banking for the region, Kreis will continue to spend a substantial amount of his time in Singapore, which is Credit Suisse's main private banking centre in Asia and the location of most of its key support resources,” the spokesperson continued.

Meanwhile, in addition to his responsibilities as Head of ultra high net worth individuals for Asia Pacific, Tee Fong Seng will assume the role of CEO Private Banking Singapore. 

Credit Suisse's Private Banking business is now being operated on a pan-regional structure, with market leaders directly reporting to Kreis.

Francois Monnet (previously head of private banking Southeast Asia) has assumed the role of Head of UHNWI in Singapore covering all APAC markets excluding Hong Kong, PRC and Taiwan.

Monnet will also take on the additional responsibility as deputy head of UHNWI APAC. In this new role, he will lead a team of senior RMs servicing ultra high net worth individual clients in the different markets, and will report to Tee Fong Seng, Head of UHNWI Asia Pacific, as well as to Kreis.

Anuj Khanna (previously head of private banking North Asia) has assumed the role of chief operating officer for PB APAC, reporting to Kreis.