Swiss giant Credit Suisse has appointed Alex Wade as head of private banking Australia, marking a changing of the guard as incumbent Edward Jewell-Tait retires.

The new appointment will take affect from January 1 2016.

Alex Wade will be based in Sydney and report to John Knox, Credit Suisse's chief for of Australia, and also to Francesco de Ferrari, head of private banking Asia Pacific.

Wade is currently the market area head, Australia and Asia Pacific Switzerland for Private Banking Asia Pacific, and chief of staff for the unit in the region.