Credit Suisse expands its private banking team

The bank has created several new positions to boost its private banking business in the region.
Credit Suisse has added four new positions within its private banking division in Asia-Pacific, with the aim of advancing its expansion plan in the regionÆs wealth markets and bolstering its strengths in client servicing and advisory.

In all, the investment bank has appointed five new heads for the private banking division: Frantois Monnet as head of private banking Southeast Asia and Australia; Stefan Mueller as head of sales management Asia-Pacific; Christian Senn as head of investment consulting; Lionel Kwok as head of products for private banking North Asia; and Philippe ClTmenton as chief operating officer for private banking in Asia-Pacific. Apart from Monnet, who is replacing Didier von Daeniken who left the bank in March, the remaining four positions are all new or newly restructured.

Monnet will join the Swiss bank as a managing director from UBS, where he led the offshore private client business segment in Asia-Pacific with an additional focus on the Singapore domestic market. Taking up his new role in September, Monnet will be based in Singapore and continue to leverage the bankÆs established franchise across Southeast Asia. This includes increasing the bankÆs domestic presence in its regional hub in Singapore, as well as in its operations in Australia and Indonesia, which were set up only recently.

ô[Monnet] has substantial experience in business development in the financial and consumer industries across Asia-Pacific and Europe and will drive the expansion of Credit SuisseÆs private banking business in Southeast Asia and Australasia,ö says Marcel Kreis, head of private banking for Asia-Pacific. ôWe also continue to strengthen our investment consulting, sales management and product functions in the region to enhance our advisory and product capabilities and offer more effective and efficient support to our relationship managers and clients,ö

Also coming on board in September, Mueller will be responsible for the set-up and execution of an effective product and investment solutions process for relationship managers, third party providers and all product areas in the bank. Most recently with UBS Wealth Management as an executive director and head of investment solutions Asia (non traditional asset classes) in Singapore, he is a veteran UBS banker and has spent 10 years in its Switzerland, Hong Kong and Singapore offices.

Senn will be based in Singapore and will start leading a team of investment consultants targeting ultra high-net-worth clients in August. Also a former UBS employee, he was head of active advisory for UBS Wealth Management in Singapore. Prior to that, he worked with Credit Suisse for 19 years covering private banking business in various locations across Europe and the Americas.

Kwok, who was previously head of global markets at Fortis Bank, will join the Swiss investment bank in Hong Kong. In his new role, he will look after the products and investment consulting teams and build up a product infrastructure for relationship managers for offering integrated financial solutions to clients. Having worked in New York, London and Hong Kong, Kwok is equipped with more than 20 yearsÆ experience in the investment banking and investment industries.

Relocating from Zurich to Singapore, ClTmenton was previously global head of business controlling for Credit SuisseÆs private banking division. Adding on his duties as chief operating officer, he will be responsible for the development, coordination and execution of the bankÆs private banking business strategy in Asia-Pacific.

ôIn Asia-Pacific, we are focused on advancing Credit SuisseÆs position as a leading private bank in the region, providing world-class, discerning products and services to meet the increasingly complex and sophisticated needs of our clients. People are a key component in Credit SuisseÆs growth plans and we offer a compelling client value proposition to attract and retain the top talent,ö Kreis says.

ôWe also put great emphasis on human capital portfolio management with targeted measures to develop and retain top talent. A key element of this is our Business School which provides a global learning platform with customised training programs for private banking employees. In 2006, the Business School provided private banking training to a cumulative total of more than 4,100 employees though 459 programmes,ö he adds.
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