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Credit Suisse Appoints Interim CEO For Investment Banking

Due to Paul Calello's sudden and unexpected illness treatment program

Credit Suisse has announced that Eric Varvel will serve as acting CEO of the investment bank on an interim basis, as Paul Calello, CEO of the investment bank, has begun program of treatment due to the development of a sudden and unexpected illness. However, Mr. Paul will remain as involved in the business as his course of treatment process will allow. Mr. Eric will continue to be based in London and maintain his role as CEO of the EMEA region.

Brady Dougan, CEO of Credit Suisse, said: “Mr. Paul will remain engaged with the business to the extent that his treatment permits. I am very grateful that Eric Varvel has agreed to take on the role of interim CEO of the Investment Bank. Eric is very well suited to the task with his many years of experience in the investment bank.

“Paul and Eric will consult closely, working together and with me to set the strategic direction of the investment bank. We have made significant progress in implementing our client-focused, capital-efficient strategy and we continue to have an exceptional opportunity to further develop and grow our key client businesses,” he added.