The Swiss bank is replacing the head of its investment banking arm. The move is the result of veteran banker Jim Amine turning to a private debt vehicle within Credit Suisse.
Jim Amine is giving up his job as head of Credit Suisse's investment banking and capital markets arm, the bank said in a statement on Monday. The veteran American banker will leave Credit Suisse top management for a new private credit job in its asset management arm.
The 60-year-old CSFB lifer's new job is to find private debt transactions for the bank. Credit Suisse said Amine's new role will benefit its wealth arm, as well as add capabilities from parts of its investment bank. He will report to Eric Varvel, another Credit Suisse veteran investment banker who currently oversees the bank's American activities.
Wider Changes
The move sparks a raft of changes among Credit Suisse's top investment bankers: David Miller, the bank's head of credit and credit products, takes over for Amine, effective immediately, including joining top management around CEO Tidjane Thiam. Varvel, a 29-year veteran of Credit Suisse, takes on an additional role as chairman of IBCM unit formerly led by Amine.
Harold Bogle, a 38-year veteran of CSFB and Credit Suisse, becomes vice-chairman. The changes come amid massive changes in Credit Suisse's C-suite in the last five months: wealth head Iqbal Khan defected to UBS, and last month CEO Thiam lost long-time associate and operating chief Pierre Olivier-Bouée in a spy scandal linked to the previous exit.
