Calello makes it to Credit Suisse executive board

Appointment represents importance of Asia-Pacific to the group.

In a vote of confidence for CSFB's Asian business, Paul Calello, chairman and CEO of the bank in Asia-Pacific has been appointed to the Credit Suisse's 14-member executive board. He will be the only regionally-specific member of the executive committee.

His ascension ostensibly follows a global restructuring announced last month. This will see the Credit Suisse group formally split into three operating units a Swiss-based global corporate, retail and private banking arm via Credit Suisse an investment banking division via Credit Suisse First Boston and wealth and asset management under Winterthur.

However, the move will also be viewed as an important signal of faith in Calello,...

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