Credit Suisse restructures its investment and private bank

Credit Suisse is merging its asset management business with its private bank and reshuffling top management. Three top bankers depart, including Asia-Pacific CEO Osama Abbasi, while Helman Sitohang gets a bigger role.
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Credit Suisse: Adjusting to a new regulatory reality
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<div style="text-align: left;"> Credit Suisse: Adjusting to a new regulatory reality </div>

Credit Suisse is merging its asset management business with its private bank in an effort to speed up cost savings, the bank said yesterday.

Three top bankers are quitting as a result of the changes Osama Abbasi who is Asia-Pacific chief executive Fawzi Kyriakos-Saad, chief executive of Europe, the Middle East and Africa Emea and Walter Berchtold, chairman of private banking, who is leaving Credit Suisse after 30 years with the Zurich-based bank.

Abbasi took charge of Asia in 2010 and is credited with helping strengthen the firm’s equities business in the region. He will stay with the bank for a brief period to assist with...

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