Credit Suisse Private Banking has promoted a veteran banker as Singapore market group head and has added six RMs and one investment councillor in South Asia, according to an internal memo seen by Asian Private Banker.
Dominique Boer has been promoted from deputy market group head Singapore to market group head Singapore, effective immediately. She will continue to be reporting to Young Jin Yee, market group head for Singapore, Malaysia and ‘South Asia Switzerland’ markets.
Boer joined Credit Suisse in 2015 as a market leader for Singapore and expanded her role to deputy market group head Singapore in 2016. She has held senior positions at Standard Chartered Bank covering key Southeast Asia and Greater China markets.
“Dominique’s appointment is a testament to our deep bench of talent and an excellent example of growing our own talent pool, and our commitment to developing the experiences and careers of professionals within the bank,” the memo reads.
Other hires for PB South Asia
Other hires include Arleen Sy who has joined the Philippines market as a senior RM, based in Hong Kong. She moved from HSBC Private Banking where she developed and expanded a book of UHNW clients in the Philippines.
Klara Chan has joined Credit Suisse’s private banking ‘South Asia Switzerland’ team as a senior expert RM based in Switzerland. Most recently, she was a senior private banker at J.P. Morgan Private Bank based in Singapore.
Voragun Thunyasthukul and Patchai Suratwisit joined as a senior RM and RM respectively, both based in Thailand. Both have joined from Kasikornbank Thailand where Thunyasthukul was a team leader within the private banking department and Suratwisit was an RM in Kasikornbank Private Bank Thailand.
Covering the India market, Vaidyanathan Narayanan and Rohit Narayanan both joined the Swiss bank as RMs. Vaidyanathan Narayanan joined from Julius Baer and Rohit Narayanan joined from Bank of Singapore.
Besides the six RM hires, Credit Suisse added Denise Low as an investment consultant, based in Singapore. Low rejoined Credit Suisse from SCB Julius Baer, where she spent the last two years building up and driving its investment advisory business in Bangkok. Prior to that, she was with Credit Suisse for 10 years.
“Asia Pacific is a key growth region for Credit Suisse, and we are continuing to build up our private banking franchise to capture the vast opportunities in the wealth management sector here,” Benjamin Cavalli, head of private banking South Asia and CEO Singapore, Credit Suisse commented in the memo.
“We remain deeply committed to nurturing and promoting senior talent to deepen our senior management bench strength, as well as in expanding our team having hired the RMs who have joined us recently.”
A spokesperson for Credit Suisse confirmed all the appointments.
At the time of its latest earnings report, Credit Suisse noted that the number of its RMs in Asia-Pacific had increased from 600 to 630 in 1Q21.
In the South Asia private banking market, the Credit Suisse has continued its selective and strategic hires of senior bankers, with a particular focus on the NRI segment (including India onshore), Singapore and Thailand.
In view of the high level of client engagement and transaction activities, Credit Suisse’s APAC wealth management franchise gathered US$5.4 billion in net new money and realised a nearly 60% jump in wealth management-related pre-tax income during 1Q21, achieving a Client Business Volume of US$419 billion compared to US$297 billion as at 1Q20.