Credit Suisse Launches New Wealth Management Structure

Credit Suisse Wealth Management division, in line with its new management structure to revamp its business areas for Europe and Latin America, announced the appointment of Christian Huber as its Chief Operating Officer. Huber currently serves as the Chief Operating Officer of the Swiss private banking business.

The Wealth Management division also announced Robert Cielen as the head of business area Europe combining Europe and Emerging Europe. The group also hired Marcello Chilov to be in charge of Latin America, combining LatAm and Brazil.

The latest appointments come at a time when Credit Suisse Group is planning to implement its new organizational structure designed to move the group to a matrix organization to allow for the best possible implementation of a strategy of investing, strengthening, and simplifying growth.

Last month, the group announced the new management structure and as a result announced four new CEOs to spearhead the company’s growth. The group appointed Francesco De Ferrari as CEO of the group’s wealth management division and named as interim CEO of Europe, Middle East, and Africa (EMEA) region. Christian Meissner, the CEO of the investment bank division, was appointed as CEO of the Americas region. Helman Sitohang was appointed as the CEO of the Asia-Pacific region while Andre Helfenstein was named as the CEO of the Switzerland region.

As of January 1 2022, the group organized itself into four business divisions, namely, asset management, wealth management, investment bank, and Swiss bank, and four geographic regions such as Asia-pacific, EMEA, Americas, and Switzerland. The aforementioned developments followed Credit Suisse’s plans to curb investment banking and shift towards wealth management.