Credit Suisse Names Division Chiefs at Swiss Unit Amid Split
- Serge Fehr to head private bank, Illy to lead investment bank
- Company plans an IPO for its Swiss division within two years
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Credit Suisse Group AG appointed at least five executives to senior roles at its Swiss division, including heads of wealth management and investment banking, as it prepares for an initial public offering of the business within two years.
Serge Fehr will head Swiss private banking and wealth management, while Swiss investment banking will be run by Marco Illy, Dominique Gerster, a spokesman for the bank, said Monday. The other three of five business lines at the Swiss operation will be external asset management, corporate and institutional clients, and premium clients, defined as people with more than 50 million Swiss francs ($49.7 million) to invest.