A private banker at Credit Suisse in Singapore is reported to have taken
up to $13 million from a client’s account over a six-year period, according to
the Inside Paradplatz news site, a
German language publication.

“We are not in a position to comment on the matter, pending
investigations. It is our policy to actively cooperate with all the relevant
authorities,” media reports quoted the Zurich-listed bank as saying.

WealthBriefingAsia is in contact with Credit
Suisse in Asia about the matter.

The female banker has been fired by Credit Suisse, who had
joined the firm in 2006, having previously worked at Citibank.

According to another report, by The Straits Times (of Singapore), it said police are
investigating the matter and that the customer has been informed.

Credit Suisse was the third-largest private bank in the
Asia-Pacific region last year after UBS and Citi Private Bank, with $117
billion of client assets.

Another report said the dismissal of the banker comes after
a four-month investigation by the city-state's authorities. It marks a rare
case of alleged embezzlement in wealth management in Singapore.

The issue is particularly serious as Singapore
prides itself on being a corruption-free jurisdiction with a strong enforcement
of the rule of law.