Credit Suisse is reshuffling the management of the business with institutional clients. The head of the business with small and medium-sized Swiss financial-service companies will take charge of a different unit.
Dominik Muenchbach, head of external asset managers (EAM) Europe at Credit Suisse (CS) has been appointed to take the same position at EAM Switzerland as well as for the global EAM division, CS said in a statement today.
Reto Hossli (pictured below), who so far has managed the division, will take charge of the newly created Investment Advisory & Solutions, a unit within the institutional clients business. The changes are taking effect in the coming week.
Successful EAM Switzerland Team
Institutional clients has been an independent unit of CS Switzerland since January. André Helfenstein is in charge of this unit. The investment advisory and solutions team will provide services to institutional clients, and consult for the very wealthy and family offices.
Helfenstein in an internal mail seen by finews.com praised the work of Hossli’s team. The group had markedly improved the risk profile of the EAM business, adjusted the strategic positioning of the business to fit its customer segments and returned EAM Switzerland to profitable growth this year.
Plenty of Experience Available
The change of manager at EAM is the second within a two-year period. Muenchbach will be responsible to make the Swiss EAM business even more profitable and to expand it at the same time. CS is working with about 800 independent wealth managers in Switzerland. The new head of EAM Switzerland will also be a member of the extended management committee of CS Switzerland.
Muenchbach has ample experience in the business with small- and medium-sized financial companies. He managed the EAM Europe business for nine years and had been in charge of operations of the EAM business at CS for two.
The bank appointed Andreas Oggier as new head of EAM Europe. He used to be responsible for EAM in the U.K.
