In a long-awaited appointment, Credit Suisse has announced a new head of its Asian private banking franchise. Effective February 2007, Marcel Kreis will take on the role as Credit SuisseÆs head of private banking Asia-Pacific, a role he will do from its Singapore offices.

Kreis, who joins from UBS, will report to Walter Berchtold, Credit SuisseÆs CEO of private banking and to Paul Calello, CEO, Credit Suisse, Asia-Pacific. Fidelis Goetz, head of private banking Northeast Asia and Didier von Daeniken, head of private banking, Southeast Asia will report directly to Kreis.

In the new position, Kreis assumes responsibility for the further development and coordination of Credit SuisseÆs private banking business in the region and will also be charged with promoting cooperation in the context of the integrated bank, which includes private banking, investment banking and asset management.

At UBS, Kreis was head of UBS global wealth management in Southeast Asia and Pacific. This role included responsibility for Australia and onshore Japan. He held this role at UBS from 2000, during which time he significantly increased its volume of assets under management.

Outside of UBS, Kreis worked for Citibank and Merrill Lynch before joining Swiss Bank Corporation (later UBS) in 1990. In total, he brings well over 20 years of private banking experience in Asia to Credit Suisse.