ZURICH (Reuters) - Credit Suisse on Friday shuffled managers at its investment banking division, promoting two American investment bankers to head up the unit alongside fixed income banker Gael de Boissard.
Switzerland's second-biggest bank said Jim Amine, who heads Credit Suisse's investment banking department, and Tim O'Hara, who runs equities, will join the 10-person top management under Chief Executive Brady Dougan as a result of the move.
Amine and O'Hara take up the position of Eric Varvel, a 24-year veteran of Credit Suisse who has run the investment bank since 2008, most recently jointly with de Boissard.
Varvel, who spent 15 years in Asia for Credit Suisse, will step down from top management to focus on being chairman of the Asia-Pacific and Middle East, a role he has had for two years.
He will continue to report to CEO Dougan, who said in a statement that Varvel would provide continuity of management in Asia and ensure client relationships are maintained.
The bank's chairman voiced confidence that the investment bank will flourish under three co-heads.
"In our investment banking Division, Eric Varvel and Gael de Boissard have been instrumental in adapting our business to the new market and regulatory environment," Credit Suisse Chairman Urs Rohner said in a statement.
"Jim Amine and Tim O'Hara have also been integral to the success of the division, with our investment banking department and equities businesses demonstrating strong results and great momentum."
(Reporting by Caroline Copley; Additional reporting by Katharina Bart; Editing by Ryan Woo)