Tee skips from UBS to Credit Suisse

Credit Suisse has poached Tee Fong Seng from UBS to become vice-chairman and head of ultra-high-net-worth UHNW for its private banking arm in the Asia-Pacific region.

Tee will continue to be based in Singapore and will report to Marcel Kreis, head of private banking in Asia-Pacific. Kreis said the senior-level hire demonstrated the commitment of Credit Suisse to its private banking franchise in Asia.

Kreis himself is also originally from UBS, where he was most recently head of global wealth management in Southeast Asia and Pacific. He took on his current Singapore-based role at Credit Suisse in February 2007.

Tee will provide important support to the strategic direction and oversight of Credit Suisse's...