MOVES-Varvel to head Credit Suisse asset management

LONDON, May 10 (IFR) - Credit Suisse has appointed Eric Varvel as global head of asset management within the international wealth management division, effective June 1.

Varvel was moved from his position of co-head of investment banking at the bank in October 2014, when current co-heads Jim Amine, in charge of investment banking and capital markets, and Tim O’Hara, responsible for global markets, took up their roles. At the same time he stood down from the executive board.

Since then Varvel has been chairman of the Asia-Pacific and Middle East regions, based in New York, giving him a wide-ranging role focusing on client retention and advising senior management on strategy.

Varvel will report to Iqbal Khan, CEO of international wealth management. He replaces Bob Jain who left the bank in March.

Varvel has occupied many senior positions during his 25 years with the bank. Before joining the executive board in February 2008, he was co-head of global investment banking in New York and had previously led Credit Suisse’s expansion in Asia-Pacific in a variety of positions, including head of emerging markets coverage and head of fixed income sales. (Reporting by Christopher Spink)