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Credit Suisse Poised to Name Edwin Low as Asia CEO in Overhaul

  • Bank plans to replace long-time Asia-Pacific head Sitohang
  • Lender is shaking up leadership ranks after series of scandals

Credit Suisse Group AG is poised to replace Asia-Pacific Chief Executive Officer Helman Sitohang with regional investment bank co-head Edwin Low as part of broader management changes across its global operations following major setbacks, people familiar with the matter said.

Sitohang will remain with the bank and take on a role focused on client coverage, one person said. A final sign-off on the succession plan is still pending, according to the people, who asked not to be named as the information is confidential. Low has been co-head of investment banking and capital markets since 2015 and is also CEO of southeast Asia.