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Credit Suisse Hires New Management

November 21, 2012

[ by Melanie Gretchen ]

Credit Suisse brought in new leadership amid the $120 million it agreed to pay to settle U.S. civil charges;  it was charged with misleading investors in the sale of risky mortgage bonds prior to the financial crisis.  On Tuesday, Switzerland's 2nd-largest bank hired a co-head of investment banking and merged its asset management division into its wealth management and private banking unit.

The new line-up:

  • Hans-Ulrich Meister and Robert Shafir would jointly run the reorganized wealth management and private banking unit, which will also include the bank's Swiss trading operations.
  • Gael de Boissard would become co-leader of its investment bank with the unit's current chief, Eric Varvel, who oversees the equities and advisory division.  He will also serve as head of the fixed-income business and will join the bank's executive committee early next year

For further details, go to [Dealbook, 11/20/12].