Credit Suisse restructures its investment and private bank

Credit Suisse is merging its asset management business with its private bank in an effort to speed up cost savings, the bank said yesterday.

Three top bankers are quitting as a result of the changes Osama Abbasi who is Asia-Pacific chief executive Fawzi Kyriakos-Saad, chief executive of Europe, the Middle East and Africa Emea and Walter Berchtold, chairman of private banking, who is leaving Credit Suisse after 30 years with the Zurich-based bank.

Abbasi took charge of Asia in 2010 and is credited with helping strengthen the firm’s equities business in the region. He will stay with the bank for a brief period to assist with...