Credit Suisse on Monday announced a change at its executive board, along with a number of additional appointments.
James L. Amine has stepped down from his role as CEO of Investment Banking and Capital Markets (IBCM) and from the group executive board after more than ten years in the role so as to take on a newly created role as head of private credit opportunities, based in New York. David Miller (pictured below), with 22 years of experience at the lender, will take over the helm of IBCM.
«This is a significant and strategic opportunity for the firm and builds upon our asset management strategy. The business will expand our alternative asset management product offering and focus on directly sourced private credit opportunities,» the bank said in a media statement on Monday.
New Chairman of IBCM
Based in New York, Amine will report to Eric Varvel. His move would add capabilities for the bank's corporate and financial sponsor clients and leverage on its strength globally across the credit spectrum. It would also benefit the firm's wealth management strategy, the bank said.
Eric Varvel has been appointed chairman of IBCM, in addition to his existing responsibilities as CEO asset management and president and CEO Credit Suisse Holdings (USA). Harold Bogle, who was until now chairman of IBCM, will become vice-chairman, group executive office.
During his career at the bank, Varvel has been a member of the group executive board, CEO investment banking division, CEO Asia Pacific, CEO Europe, Middle East, and Africa and Chairman Middle East, Asia and Sovereign Wealth Funds. With almost over 30 years at Credit Suisse, across the U.S., Europe, and Asia-Pacific, he has led various businesses, built deep client relationships, and developed key talent across the bank, Credit Suisse wrote.
