Business Report International

Management shake-up continues at Credit Suisse

Published

Zurich - Credit Suisse Group continued its management shake-up Wednesday, appointing three new members to the group executive board.

The changes come just a day after Brady Dougan, new chief of the US investment banking unit Credit Suisse First Boston, named Brian Finn as president and Neil Moskowitz chief financial officer of the New York-based investment bank.

Barbara Yastine reportedly told members of her staff last week that she was leaving, but Credit Suisse First Boston had previously declined to comment.

In its statement Wednesday the group said she will leave the firm after second quarter results are published Aug. 4.

Credit Suisse also appointed two CSFB managers - Paul Calello and Gary Lynch - to the board. Calello is chairman and chief executive of CSFB's Asia-Pacific activities, and Lynch is vice chairman and general counsel of CSFB.

The other new appointment was Tobias Guldimann, who was promoted to be the group's new chief risk officer after Richard Thornburgh was named vice chairman of CSFB's executive board. All management changes are effective immediately.

Credit Suisse appointed Dougan to head CSFB two weeks ago, to replace John J. Mack, who stepped down from his position at the top of the bank and as co-CEO of the Credit Suisse Group.

Last week CSFB announced that its chief administrative officer, Tom Nides, would leave the firm with immediate effect. - Sapa-AP