Major Reshuffle at Credit Suisse Asset Management

After taking the lead at the asset management division of Credit Suisse in June, Eric Varvel has now presented a thorough reshuffle of his management team, can reveal.

Credit Suisse (CS) had appointed Eric Varvel as new head of asset management at the International Wealth Management unit, starting June 1, and replacing Bob Jain, as reported in May. Now, Varvel has announced several appointments, according to an internal memo seen by on Monday.

Bill Johnson has been appointed Head of Asset Management Americas, in addition to his current role as Deputy Global Head of Asset Management. In this role, he will oversee the Commodities Group, Credit Investments Group, Securitized Products Fund and Private Funds Group.

Furthermore, Anteil Capital Partners, NEXT, and Mexico Credit Opportunities Trust (MEXCO), will continue to report to Bill Johnson, as well as the other Americas-based businesses that currently report to him. Niklaus Hilti will continue to run Insurance Linked Strategies and report to Johnson.

Charlie Shaffer will continue in his role as Global Head of Distribution and report directly to Johnson. «Global Distribution remains a key pillar of our strategy and an integral component of our growth going forward,» Eric Varvel added.

Michel Degen has been appointed Head of Asset Management Switzerland and EMEA, which includes all existing Core businesses, Alternative Funds Solutions (AFS) and Credit Suisse Energy Infrastructure Partners.

Tim Blackwell will continue to manage the Real Estate business and report to Michel Degen.«I am confident that under Tim Blackwell's guidance, Real Estate will be able to realize its full potential,» Varvel said.

Harald Réczek will continue to oversee Swiss and EMEA Distribution and report to Michel Degen with a dotted line to Charlie Shaffer.

Michael Strobaek who has been leading Asset Management in Switzerland until now, will continue in his role as the Global Chief Investment Officer of Credit Suisse and Head of Investment Solutions and Products for Internatonal Wealth Management (IWM).

As recently announced, Michael Levin continues to lead Asset Management Asia Pacific and will continue to have dotted lines to Neil Harvey, Chairman of Asset Management APAC, and to Charlie Shaffer with respect to distribution.

Going forward, ICBC Credit Suisse Asset Management, one of the region’s most important partnerships and an area of growth, will be part of Asset Management’s Asia Pacific platform and report to Michael Levin, with oversight and support provided by Neil Harvey.

In addition, Mike D’Angelo, Global Chief of Staff, and Peter Norley, Global Chief Operating Officer, will continue in their roles on a global basis. Regional Chief Operating Officers (COO) will report to the regional heads and to Peter Norley on a dotted basis.

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