Swiss banking giant Credit Suisse has appointed Benjamin Cavalli as the new CEO of its Singapore business, replacing Lito Camacho who will continue to serve as vice chairman Asia Pacific.

Cavalli will work with business heads in Singapore to support the bank's business and client strategy. He will also work with the corporate functions to maintain governance and control framework in the bank's Singapore arm.

He will report to Credit Suisse head of private banking Asia Pacific and CEO Southeast Asia Francesco de Ferrari.

Cavalli will continue in his existing role as head of Southeast Asia and head of Singapore location for private banking, the Swiss bank said.

He has an experience of over two decades in wealth management and investment banking across Asia and Switzerland, and has been working at Credit Suisse since 2009.

Credit Suisse also appointed Tan Kuan Ern as its deputy Singapore CEO. In addition to the new role, Ern will also continue in his existing role as head of Singapore coverage, Investment Banking and Capital Markets (IBCM).

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By GlobalData

Ern, who joined Credit Suisse in 2010, replaces Edwin Low who remains as co-head of IBCM Asia Pacific. Ern has an experience of over 16 years in investment banking.

Moreover, the Swiss bank appointed Jacky Ang as branch Manager for Credit Suisse Singapore Branch and senior corporate officer for Credit Suisse (Singapore).

Ang will succeed Chien Chien Wong who was recently named COO of Asia Pacific. He will take up the new responsibility in addition to his role as COO Singapore, a position he has held since 2015.