Credit Suisse U.K. Head Garrett Curran Plans to Leave Firmby and
Curran plans to leave in February, according to internal memo
Curran is latest to leave Credit Suisse amid CEO's overhaul
Credit Suisse Group AG’s U.K. head Garrett Curran plans to leave the firm to pursue “outside interests” as the lender overhauls operations to boost profit.
Curran, who joined Credit Suisse in 2008 and also oversees fixed-income sales for Europe, the Middle East and Africa, will depart in early February, according to an internal memorandum obtained by Bloomberg News. Reached on his mobile phone, Curran referred comments to the press department. Sofia Rehman, a spokeswoman for the lender, confirmed the memo’s contents.
The exit marks the latest senior departure from Credit Suisse as Chief Executive Officer Tidjane Thiam overhauls the lender and bolsters the firm’s focus on Asia and wealth management. Gael de Boissard, who was in charge of fixed income as one of three co-heads of the investment bank, retired as part of management changes announced in October. Marcelo Kayath, head of equities and fixed income for Latin America, will exit at the end of March, according to a separate memo this week.
“Garrett notified me of this decision some time ago, but expressed a desire to support our teams through the early transitionary months of our new global markets strategy as well as our year-end processes,” Tim O’Hara, head of Credit Suisse’s global markets unit, said in the memo.
The Zurich-based bank plans to eliminate 2,000 positions in London as part of a plan to cut as many as 5,600 jobs across the firm.