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Francesco De Ferrari, a banking veteran who had a brief stint as CEO of Australia’s AMP Group, will become global head of Credit Suisse’s asset management department, the Swiss bank announced on Monday.
De Ferrari’s return to Credit Suisse, which he left in 2018, will include an appointment to the Swiss bank’s executive board from 1 January. He will also serve as interim CEO of the region’s Europe, Middle East and Africa, Credit Suisse said in a statement.
In March, De Ferrari resigned from AMP after a tumultuous stay with the Australian asset manager that lasted less than three years. His resignation followed the collapse of the takeover talks between AMP and the US private equity group Ares Management for an offer of A $ 6 billion ($ 4.6 billion) for the company.
In 2018, AMP appointed De Ferrari, then Credit Suisse’s private bank manager in Asia-Pacific, as its new CEO to “lead the recovery” of the business as it came under ever-increasing regulatory scrutiny. De Ferrari also had the role of CEO of Southeast Asia and Border Markets at Credit Suisse.
In other senior moves announced on Monday, Christian Meissner, CEO of Credit Suisse’s Investment Banking division, has been named CEO of the US business, while Helman Sitohang and André Helfenstein will be CEOs of the Asia-Pacific and Switzerland regions, respectively.
The staff came as Credit Suisse faltered following the recent collapses of supply chain finance firm Greensill Capital and family-run Archegos Capital, which inflicted a $ 5.5 billion loss, the largest in Swiss bank history.
On Monday, Mark Hannam was appointed the Swiss bank’s new head of internal audit.