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Trouble financial services giant AMP has appointed long-time Credit Suisse executive Francesco De Ferrari as its new chief executive, effective December 1.

Mr De Ferrari will join AMP after 17 years at Credit Suisse where he was chief executive for South East Asia and Frontier Markets and Head of Private Banking Asia Pacific.

He replaces non-executive director Mike Wilkins, who had been acting as interim CEO since April when Craig Meller quit in the wake of a fees-for-no-service scandal.