Credit Suisse Shuffles Swiss Banking Team, Institutional Head Departs

Credit Suisse has a key vacancy to fill following the announced departure of Barend Fruithof, the bank’s Head of Swiss Corporate and Institutional Clients, part of a broader-based strategy to revamp its private banking composition.

A move of this caliber has not been experienced at Credit Suisse since back in November, when the group lost its head of India investment banking, Vedika Bhandarkar.

Mr. Fruithof is leaving Zurich-based Credit Suisse after a period of seven years in his current role as head of Swiss corporate and institutional clients and managing director. A replacement candidate has already been chosen, with Andre Helfenstein being the man tasked to succeed Fruithof, effective immediately.

Prior to joining Credit Suisse in 2008, Mr. Fruithof worked at Raiffeisen Switzerland as its Chief Regulatory Officer between 2004 and 2007. In addition, he also held the role of chief executive officer at Aduno Gruppe for a three year period dating back to 2001.

Credit Suisse has also announced a cascade of other changes to its Swiss business in a bid to maximize its earnings potential. John Haefelfinger, the acting transportation and global finance department, has been named as the newest deputy head of C&IC.

Additionally, Credit Suisse has tapped Andreas Gerber, Head of Corporate Business, who will now assume the role of head of the small and medium-sized enterprises unit from Urs Gauch. Finally, Daniel Hunziker is slated to become Credit Suisse's new private banking head for Swiss clients in the Zurich region.