Restructuring continues after the crisis Credit Suisse appoints new asset management chief operating officer Reuters

Zurich (Reuters)- Credit Suisse (Six:) Markus Ruetimann was appointed as the new global chief operating officer of Credit Suisse Asset Management (CSAM) on Monday, as the Zurich bank switched to the former UBS and Schroeder (LON:) The manager helped it recover from repeated crises.

Ruetimann will report to Ulrich Koerner. Another former UBS executive was appointed as the head of asset management in March, because after the implosion of approximately $10 billion in funds related to the British supply chain financier Greensill, UBS will Split the business into its own departments.

“As the global chief operating officer of CSAM, Markus will conduct global oversight of technology and digital solutions, change and project management, operations, and data and business services,” Koerner told Credit Suisse employees in a memo seen by Reuters. And it was confirmed. the company.

“He will also lead the regional COO team for Europe, Middle East and Africa/Switzerland, Americas and Asia Pacific.”

Koerner said that Mike D’Angelo, the former CSAM chief operating officer, will support Ruetimann to help develop a new operating model. He thanked D’Angelo for his work in the past few years.

The changes within CSAM came after the separate announcement of the resignation of the chief compliance officer of Credit Suisse’s domestic division on Monday.