Credit Suisse has appointed Osama Abbasi as CEO of the Asia Pacific region and a member of the executive board of Credit Suisse Group.
Abbasi will report to Brady Dougan, CEO of Credit Suisse, effective 1 October 2010.
Kai Nargolwala will become chairman of Credit Suisse Asia Pacific effective the same date.
Abbasi is currently head of the equities department of the investment bank in Asia Pacific. He will be responsible for executing the bank’s strategy in Asia Pacific and will be responsible for both divisional and country performance in the region.
Nargolwala will provide counsel and guidance to senior management in the region, including the newly appointed CEO, with a focus on strategy and senior client relationships.
Credit Suisse said Abbasi will remain based in Hong Kong and Nargolwala will relocate to Singapore.
Dougan said that Credit Suisse is on track to continue growing as a well capitalized, globally integrated bank. The company is confident that these appointments in Asia Pacific will help it to further accelerate the implementation of its client-focused, capital-efficient strategy.