Credit Suisse has announced its latest senior appointment, tapping Christian Berchem as its newest Chief Executive Officer (CEO) of Credit Suisse (UK) Limited, its UK Private Banking business, per a company statement.
Mr. Berchem will step into his new role on June 7, 2017, pending the requisite regulatory approvals. In this capacity he will be tasked with driving the platform’s growth, as well as bolstering its private banking business within the International Wealth Management division.
He will also be reporting to Claudio de Sanctis, Credit Suisse’s Head of IWM Europe. Despite the move, Philip Harris, the man serving in the CEO role for the three years, will remain in this position until Mr. Berchem takes over, in order to ensure a smooth transition. Upon the move, he will shift his focus to the role of Senior Client Advisor within the UK private bank.
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Mr. Berchem joins Credit Suisse from Barclays, having worked for the past five years at Barclays Wealth in the UK, including a stint as its Head of the Private Bank for London. He has also held senior level roles at JPMorgan, Merrill Lynch, Morgan Stanley. and KPMG.
According to Mr. de Sanctis: ”I thank Philip for his strong contribution in transforming our UK platform. At the same time, I am delighted to welcome Christian to Credit Suisse (UK) Limited, ensuring our continued success as a leading wealth manager in one of our key markets in Europe.”
“He brings a wealth of experience in financial services along with a strong client focus and an in-depth knowledge of the industry, helping us accelerate the platform’s strategic development and attract top talent. I’m convinced that Christian’s experience both in investment and private banking will help us achieve new levels of growth and profitability. We remain firmly committed to the UK Private Banking business as part of our strategy to capitalize on London’s appeal to international mobile wealth as well as UHNW clients,” he added.