Credit Suisse Fills Key Wealth Management Post

Credit Suisse has filled the vacancy left by the surprise departure of veteran banker John Haefelfinger in specialty and corporate lending. The Swiss bank is also creating a new unit.

The Zurich-based bank has named Martin Hofacker (pictured below) to replace John Haefelfinger, according to a memorandum seen by finews.asia.

Martin Hofacker 160Hofacker's appointment is effective in September. He will report to Iqbal Khan, who runs Credit Suisse's flagship international wealth management operations. Haefelfinger's departure, reported exclusively by finews.asia in May, was followed by the news that he will take the top job at Basellandschaftlichen Kantonalbank.

The existing corporate and specialty lending department will be renamed as real asset lending, or RAL. The department is mainly involved in shipping finance for sea- or airfreight and other complex capital transactions.

Rise in Credit Suisse

Hofacker joined Credit Suisse in 2008 and is currently a managing director in charge of the bank's institutional clients business in the bank's regions.

Prior to this, he was the Chief Operationg Officer (COO) for corporate and institutional clients and credit risk management in Switzerland. Prior to joining the bank, he worked for the Zurich-based consulting firm IFBC.

New Bank Unit

Credit Suisse also unveiled a newly-created «structured transactions group» unit, or STG, to coincide with Hofacker's appointment in September. Credit Suisse veteran Remi Mennesson has been named to lead this unit, also reporting to Khan.

The department will group structuring and origination of lending transactions against assets and hybrid collaterals along four regions: emerging markets, Europe, Latin America, and Middle East/Africa.

The move will allow wealth management to strengthen its profile and deepen client relationships, Khan said in the memo.

WEB'S BEST

Top stories from across the globe

  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
  • Former Goldman's Partner in Boutique Venture
  • Hong Kong and Singapore in Push for Fee Transparency
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.