The Swiss bank is tapping its former chief in Asia to run its newly-merged wealth management unit. Its chief of sustainability is exiting.
Zurich-based Credit Suisse is naming Francesco De Ferrari head of its private bank, effective January 1, it said in a statement on Monday. De Ferrari oversaw Credit Suisse’s wealth activities in Asia until 2018 when he left to oversee AMP, a crisis-stricken wealth and asset manager in Australia.
The Swiss and Italian banker's appointment confirms a finews.com exclusive of six weeks ago. De Ferrari's remit was widened when Credit Suisse last month combined business with the wealthy in Switzerland, in the wider Asian region, and internationally.
C-Suite Changes
Philipp Wehle, who held the international wealth job before, will be finance chief of the wider unit – a job he held under previous chief Iqbal Khan until 2019 – as well as oversee client segments, the bank said.
Credit Suisse also said Lydie Hudson, its head of sustainability, investments, and research, will leave following a transition period. Her exit follows the integration of the SRI area into the wealth arm as well as the investment bank. She had been in the job since it was created 16 months ago.
Risk Management Focus
Credit Suisse will also temporarily task De Ferrari with a regional job in Europe, the Middle East, and Africa – part of a matrix structure introduced last month. The bank will keep searching for someone to take on the role permanently, a spokeswoman told finews.com.
Credit Suisse named Christian Meissner to oversee the Americas, Helman Sitohang Asia, and André Helfenstein Switzerland.
«Risk management will be at the core of all our actions, with the board of directors and the executive board together driving a culture that reinforces the importance of accountability and responsibility across the entire bank,» Chairman António Horta-Osório said.
More to follow
