Credit Suisse has elevated Helman Sitohang as CEO of Asia Pacific region. He will replace Eric Varvel who has been promoted as chairman of Asia Pacific & Middle East regions.
All the country CEOs as well as heads of private banking and wealth management and chiefs of equities, fixed income and investment banking departments in Asia Pacific, as well as the shared services heads in Asia Pacific will report to Sitohang, in addition to their functional reporting lines.
Sitohang will be based in Singapore and will also handle his current role as head of the investment bank for Asia Pacific.
He has been involved in around $150 billion of M&A and capital raising across the globe and has led the origination of many of the bank's high profile deals across Asia and Australia and has been with the bank since 1998.
Varvel joined Credit Suisse in 1990 and has held various key roles in Tokyo, Jakarta and Singapore. He became CEO in 2012 and will continue to play a key role in providing important continuity in the chairman’s role.
Prior to joining Credit Suisse, he was an analyst for Morgan Stanley in its investment banking department in New York and Tokyo.
In Asia Pacific, Credit Suisse is represented in 12 countries with 7,400 employees working in 24 offices, providing one of the broadest footprints of any international bank in the region.
(Edited by Joby Puthuparampil Johnson)