Credit Suisse Group announced last week that Eric Varvel has been appointed CEO of the Europe, Middle East and Africa (EMEA) region, effective from 1 February 2008. Varvel will be a member of the executive board and report to Brady W. Dougan, CEO of Credit Suisse.
The firm reports that Varvel succeeds Michael Philipp, who has been chairman and CEO of the EMEA region for the past three years. Philipp will assume a new role as chairman, Middle East and Africa, focussing on strategic clients in the region and working closely with Varvel. Philipp will continue as chairman of the environmental business group of Credit Suisse.
Varvel will work with the investment banking, private banking and asset management businesses, leading the integrated bank in the region. He will assume this role in addition to his responsibilities as co-head of the global investment banking department and head of the global markets solutions group in the investment bank.
"Varvel is one of our most respected leaders within the investment bank and brings to the regional role more than twenty years of investment banking and capital markets experience and an understanding of Credit Suisse," says Dougan.
"We continue to see growth opportunities in the EMEA region and, with Varvel's appointment, expect to build on the momentum that we have established," he continues.
"I look forward to building on our momentum and working with our team to further expand our business in the EMEA region," comments Varvel.