Latest Updates: Credit Suisse Appoints Former AMP Head to Head Wealth Management Unit

Francesco De Ferrari, newly appointed Head of Wealth Management at Credit Suisse © Nicky Loh / Bloomberg

Francesco De Ferrari, a bank veteran who held a short-term position as managing director of Australian group AMP, will become global head of Credit Suisse’s wealth management division, the Swiss bank said on Monday.

De Ferrari’s return to Credit Suisse, which he left in 2018, will include an appointment to the Swiss bank’s board from January 1. He will also be acting chief executive officer of his Europe, Middle East and Africa region, Credit Suisse said in a statement. declaration.

In March, De Ferrari retired from AMP after a tumultuous stint with the Australian asset manager that lasted less than three years. Its exit follows the failed takeover negotiations between AMP and US private equity group Ares Management over an A $ 6 billion ($ 4.6 billion) offer for the company.

In 2018, AMP appointed De Ferrari, then director of Credit Suisse’s Asia-Pacific private bank, as the new chief executive to “lead the takeover” of the company while it was under scrutiny. increasing regulatory. De Ferrari also served as Managing Director of South East Asia and Frontier Markets at Credit Suisse.

Among other executives announced on Monday, Christian Meissner, managing director of Credit Suisse’s investment banking division, has been appointed managing director of its Americas activities, while Helman Sitohang and André Helfenstein become managing directors, respectively, for the Asia regions. -Pacific and Switzerland.

The staff reshuffle came as Credit Suisse collapsed after the recent collapses of supply chain finance firm Greensill Capital and family office Archegos Capital, which inflicted a business loss of $ 5.5 billion. dollars, the largest in the history of Swiss banking.

Mark Hannam was appointed the Swiss bank’s new head of internal audit on Monday.

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