Credit Suisse has named Francois Monnet and Benjamin Cavalli as its private banking heads in North Asia and South Asia, respectively.

The pair will replace Francesco De Ferrari, who has left the firm to join Australian investment manager AMP as its CEO.

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Ferrari has an experience of over two decades in the wealth management sector, of which 17 years were at Credit Suisse.

He worked as the head of Asia Pacific private banking business and CEO of South East Asia and Frontier Markets at Credit Suisse.

He will assume the new role on 1 December 2018, replacing Mike Wilkins who has been serving as the CEO of AMP on an interim basis since April this year.

Wilkins took the reins from Craig Meller, who quit AMP following a fee-for-no-advice scandal.

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AMP chairman David Murray said: “Francesco is a proven change agent who will bring the strategic acumen and expertise to spearhead the transformation needed in our business.During his time with Credit Suisse, Francesco built strong teams and successfully set a culture that balanced the interests of clients, shareholders and all other stakeholders.

“His experience of transforming and driving growth in businesses in Asia and Europe will be invaluable as he addresses the significant challenges facing both our business and the wider financial services sector in Australia.”