De Ferrari ditches Credit Suisse for AMP – an altogether different job

Francesco de Ferrari was running private banking for Asia at Credit Suisse – arguably one of the most important and well-positioned roles in the bank – so why has he given it up to become CEO of beleaguered Australian wealth manager AMP, a place so toxic it lost its chief executive and chairperson within a fortnight in April?

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Francesco de Ferrari

The news that Francesco de Ferrari is to leave his role as head of Asia-Pacific private banking at Credit Suisse to take on the CEO job at troubled Australian wealth manager AMP has taken the industry by surprise.

De Ferrari is leaving a powerful job at Credit Suisse, where he has worked for 17 years. It is arguably one of the most important in the whole bank: private banking is core to Credit Suisse’s recovery, and Asia is the most dynamic part of it.

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