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Credit Suisse Super-Rich Clients Head Boegli to Step Down

Credit Suisse Group AG (CSGN), the second-largest Swiss bank, said Rolf Boegli, head of wealth management for super-rich clients in Switzerland, will step down at the end of the year for health reasons.

Boegli, 50, plans to return after a leave of absence, according to an internal memo to staff today from Hans-Ulrich Meister, co-head of private banking and wealth management. A spokesman for Zurich-based Credit Suisse confirmed the memo’s contents. Thomas Gottstein, 49, who leads investment banking Switzerland coverage, will take over from Boegli in January.

Credit Suisse said last year it would invest in building up business with so-called premium clients and external asset managers and appointed Boegli, who was chief operating officer for private banking, to oversee it.

“Rolf has shaped a powerful organization to successfully tackle today’s challenges, while at the same time positioning these two strategically important key client segments for future growth through focus and innovation,” Meister said in the memo.

Gottstein, who joined Credit Suisse’s investment bank in 1999, has worked on transactions for Swiss companies including advising Synthes Inc. on Johnson & Johnson (JNJ)’s 17.7 billion franc ($20 billion) acquisition of the company and Glencore International Plc (GLEN)’s $10 billion initial public offering in 2011.

Gottstein held various roles within the European equity capital markets business at Credit Suisse from 2002 to 2009, serving as co-head of equity capital markets for Europe from 2007 to 2009.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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