Credit Suisse Singapore CEO Exits in Latest Asia Departure

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(Bloomberg) — Credit Suisse Group AG’s Singapore Chief Executive Officer Chien Chien Wong is leaving the bank, the latest senior departure to hit the embattled Swiss firm.

Wong is leaving to pursue outside interests. She will be replaced by Rehan Anwer, who takes on the role in addition to his current job as CEO Southeast Asia, according to internal memos seen by Bloomberg News.

A spokeswoman for the bank confirmed the contents of the memos.

Credit Suisse is grappling with a string of senior banker departures as it undertakes a sweeping overhaul of its business to restore profitability after scandals and missteps. Most recently, Asia-Pacific vice chairman of investment banking & capital markets, Zeth Hung, left the bank. Young Jin Yee, deputy CEO of Asia-Pacific wealth management, resigned to join Deutsche Bank AG last year.

Wong began her career with CS First Boston in 1992 and has held key leadership roles across Singapore, Hong Kong and New York, including chief operating officer for the Asia Pacific division, as well as key roles at the Swiss lender’s investment bank and fixed income units in the region.

Dominique Boer will take on the role of Deputy CEO Singapore. The appointments of Boer and Anwer are subject to regulatory approval.

Credit Suisse posted a bigger-than-estimated loss for the fourth quarter and unprecedented client outflows. The plan to stem the decline hinges on a massive client outreach program to woo nervous clients and their cash back to the bank, while carving out the volatile investment bank and slashing costs.

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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