Credit Suisse investment bank chair Varvel exits – memo – Reuters

December 20, 2021 by No Comments

The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland, November 3, 2021. REUTERS/Arnd WIegmann/File Photo

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  • Varvel to go after 30-year career at number-two Swiss bank
  • James Walker named interim head of U.S. holding company

ZURICH, Dec 20 (Reuters) – Eric Varvel, chairman of Credit Suisse’s (CSGN.S) investment bank and head of its U.S. holding company, is leaving the Swiss group where he has worked for three decades, a staff memo seen by Reuters and confirmed by the bank said.

James Walker has been appointed CEO ad interim of Credit Suisse Holdings (USA) Inc, the memo from Chief Executive Thomas Gottstein said.

The departure extends the upheaval at Credit Suisse, which under new Chair Antonio Horta-Osario last month reined in its investment bankers and focused more on private banking as it tries to curb a freewheeling culture that has cost it billions in a string of scandals. read more

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