Credit Suisse director in Singapore escapes to JPMorgan
Credit Suisse’s private bankers in Singapore might have some of the safest seats post-merger with UBS, but that doesn’t mean there aren’t bankers willing to take the leap out of there.
Carlos Zancajo Toribio is one. Toribio spent 12 years at Credit Suisse before joining JPMorgan last week. At Credit Suisse, he worked the international wealth management desk, most recently with the European & Middle East team. He was with UBS before that.
Toribio began his UBS career in Madrid before joining Credit Suisse, which eventually moved him to London, and then Singapore, which is where he’s been based since 2015 (and also where he joined JPMorgan).
Credit Suisse’s wealth management division in APAC seemed to be one of the safest parts of the bank to be in, given the interest in acquiring it shown by BNP Paribas, among others. Former UBS CEO Ralph Hamers thought the two banks had a synergistic relationship in the region and UBS head of wealth Iqbal Khan has been touring around trying to persuade Credit Suisse people to stay.
Khan hasn't always been successful. Various wealth managers have been leaving Credit Suisse in Singapore, including Jacky Ang, former head of the wealth management business in the city.
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