logo
Share SHARE
FONT-SIZE Plus   Neg

Credit Suisse Unveils Organizational Changes - Quick Facts

Credit Suisse (CS) announced changes in its organizational structure and to its executive board, effective November 30, 2012. The Private Banking and Asset Management units would be combined to form the Private Banking & Wealth Management Division, while Hans-Ulrich Meister and Robert Shafir would partner in leading this division.

Hans-Ulrich Meister would be the Head of Private Banking with responsibility for running the Swiss franchise and the Private Banking client businesses in EMEA and Asia Pacific; whereas Robert Shafir would be the Head of Private Banking & Wealth Management Products, who's responsible for the current asset management products, Investment Services & Products, CS Trust and Research, as well as for the Private Banking client business in the Americas. Also, Robert Shafir would continue to serve as the CEO of the Americas region for the bank.

The Investment Banking securities platform in Switzerland would be moved into Private Banking & Wealth Management and report to Robert Shafir and to Hans-Ulrich Meister. The Solution Partners group would also jointly report to Hans-Ulrich Meister and Robert Shafir.

According to the company, the changes announced today mean that the roles of dedicated CEO Asia Pacific and EMEA no longer exist. Osama Abbasi and Fawzi Kyriakos-Saad, who serve as CEOs for those two regions, are leaving the firm. In addition, Walter Berchtold, Chairman Private Banking, has informed that he would be stepping down from his role and leave Credit Suisse after 30 years.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toys R Us Monday said it has voluntarily filed for chapter 11 bankruptcy protection in U.S. amid its struggles with outstanding debt and the shrinking sales due to increased online competition. The New Jersey-based toy retailer has still not recovered from a massive debt left from its $6.6 billion acquisition in 2005. You've already made so many great decisions if you are in position to retire. Don't blow the next big call: where to spend your golden years. The personal-finance website WalletHub conducted an in-depth analysis of retiree-friendliness of the 150 largest U.S. cities across 40 key metrics. Those... Many restaurants are luring customers with irresistible promotions on the occasion of National Cheeseburger Day on Monday, September 18. While Burger King is not offering any specific deal on a national level, several other restaurants are celebrating the day by offering sweet, lucrative deals.
comments powered by Disqus
Follow RTT