EFG International is promoting a former top executive of Credit Suisse's asset management unit to its top management.
The family-owned Swiss wealth manager is appointing Harald Reczek to top management, effective immediately, it said in a statement on Monday. It is the second career move for Reczek, who until last year was the deputy head of Credit Suisse's asset management unit in Switzerland as well as in the wider European, African, and Middle East region.
EFG poached him as deputy head of its investment solutions in November, and then when his boss Renato Cohn left for BTG Pactual six weeks ago, named Reczek to replace him. Reczek worked for Credit Suisse's asset management business, now embattled due to a $10.1 billion line of Greensill supply chain funds, for more than four years.
Embattled Fund Unit
Most recently, he was the back-up to Michel Degen, who was removed in March, shortly after Credit Suisse pulled the plug on the funds. Reczek is now one of five top executives led by CEO Giorgio Pradelli, alongside legal chief Yves Aeschlimann, operating boss Martin Freiermuth, and finance chief Dimitris Politis.
