Credit Suisse names new asset management chief
Credit Suisse has named Eric Varvel as its global head of asset management.
Varvel, a twenty-five year veteran of the Swiss bank, replaces Bob Jain whose departure was announced internally last March.
The change is effective next month, Credit Suisse said in a statement on Tuesday.
He will be based in New York and report to Iqbal Khan, chief executive of international wealth management.
Building the division's alternative investments franchise and accelerating growth in emerging markets will be part of Varvel's remit.
Earlier on Tuesday, Credit Suisse posted first-quarter results highlighting a decline for the company's trading unit.
Chief exec Tidjane Thiam is scaling back the investment banking business, which has more volatile earnings and is subject to more stringent regulation.
He is hoping that business in Asia Pacific, Switzerland and international wealth management will spearhead a turnaround.
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