Credit Suisse names AMP CEO to head wealth management arm in raft of top changes

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Credit Suisse names AMP CEO to head wealth management arm in raft of top changes

Credit Suisse announced on 13 December a raft of top changes including Francesco De Ferrari who is returning as chief executive of its wealth management arm after working at AMP from 2018 to June 2021.

At Australia headquartered AMP De Ferrari was chief executive, overseeing a portfolio of businesses ranging from life insurance to asset management products, pensions and banking, as well as joint ventures across China and the US.

Prior to that he was at Credit Suisse from 2002 to 2018, where he had a number of senior roles including head of private banking for Asia-Pacific and CEO of Southeast Asia and frontier markets.

Between 2008 and 2011, he was CEO for private banking in Italy at the firm, having previously been business chief operating officer for private banking, Europe, Middle East and Africa.

Before joining Credit Suisse, he worked at companies such as Nestlé and McKinsey in different roles.

He will start on 1 January 2022, reporting to group CEO Thomas Gottstein.

De Ferrari has also been appointed as ad interim CEO of Europe, Middle East and Africa region.

Christian Meissner, CEO of the investment bank division, has been appointed as CEO of the Americas region.

Helman Sitohang and André Helfenstein have been appointed as CEOs of the Asia-Pacific and Switzerland regions, respectively. Mark Hannam has been named as head of internal audit.

From 1 January next year, the group will be organised into four business divisions - wealth management, investment bank, Swiss bank and asset management - and four geographic regions - EMEA, Americas, Switzerland and APAC.

Philipp Wehle, who has served as CEO of international wealth management since 2019, will be appointed as chief financial officer of wealth management and head client segment management global wealth, working with Francesco De Ferrari.

Lydie Hudson, CEO for sustainability, research and investment solutions will step down from the executive board, leaving the bank after a transition period.