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Credit Suisse Reshuffles Executive Board

Credit Suisse has made several changes to its executive board to further strengthen and help drive its strategy as a global bank, effective July 1, 2010.

Paul Calello has been appointed chairman of the Credit Suisse investment bank and Eric Varvel, who is currently serving as acting CEO of the investment bank, has been appointed CEO of the investment bank.

Fawzi Kyriakos-Saad, currently CEO of Russia, the countries of the Commonwealth of Independent States and Turkey, and co-head of the global emerging markets council, will succeed Mr Varvel as CEO of the Europe, Middle East and Africa region.

Antonio Quintella, currently CEO of Brazil and co-head of the global emerging markets council, will become CEO of the Americas region, succeeding Rob Shafir who has been covering this role in addition to serving as CEO of asset management. Mr Shafir will remain CEO of asset management and will focus on growing the business.

Credit Suisse said that Mr Calello and Mr Shafir will remain based in New York, Mr Varvel and Mr Quintella will move to New York and Mr Kyriakos-Saad will move to London.

Brady Dougan, CEO of Credit Suisse, said: “Credit Suisse has a tremendous opportunity to grow as a well capitalized, globally integrated bank. We are confident that these appointments will help to further accelerate the implementation of our client-focused, capital-efficient strategy.”