The Swiss bank is replacing its overseer in Brazil, after Kristalina Georgieva tapped the current job-holder for a top position at the International Monetary Fund.
Zurich-based Credit Suisse is appointing Ana Paolo Pessoa (pictured below) as its chair in Brazil, effective from January, it said in an emailed statement. Pessoa, who is a director on the Swiss bank's board, is to replace Ilan Goldfajn, who is taking a top job at the International Monetary Fund under Kristalina Georgieva, according to a separate statement.
Formerly Brazil's top central banker, Goldfajn joined Credit Suisse two years ago to underpin its investment banking ambitions. His exit comes shortly alongside that of long-standing country chief José Olympio Pereira earlier this year. Goldfajn is leading the search to replace Pereira.
Rich Tradition
Pessoa is a 54-year-old Brazilian former media executive who also sits on various corporate boards including Rupert Murdoch's News Corporation and France's Vinci Group. She said in a statement that she will help Credit Suisse «seek new opportunities and strengthen our local presence.»
Brazil represents a major market for Credit Suisse, both in wealth management – where it partners with Modelmais, a digital bank – as well as investment banking, where it was one of the first foreign lenders to place a big bet by acquiring Garantia in 1998.
