India experience, even if it's in the government, becomes handy in corporate world. David Mulford, until recently the US ambassador to India, has been appointed by Swiss bank Credit Suisse as Vice Chairman International. Mulford will advise government and corporate clients of Credit Suisse around the world. He served in India for five years and negotiated the U.S.-India civil nuclear agreement. Mulford stepped down last month.
Credit Suisse presently offers wealth management to individuals besides asset management and investment banking services in India. This appointment comes at a time when investors are increasingly looking at emerging markets like India, where the economy is still growing at a significant pace.
Mulford had earlier worked with Credit Suisse First Boston, which he joined in 1992. There he led the investment bank's global privatisation business, advising corporate and government clients on several big deals. Mulford has also held various positions in previous US administrations in departments of International Affairs and Treasury.
"The bank's integrated banking model, commitment to emerging markets and its ability to deliver clients sound advice with innovative solutions attracted me back into the international banking industry despite the presently challenging markets," Mulford said in a statement.
Mulford was not the only US ambassador in India to join private sector. Frank Wisner, who was US Ambassador in India between 1994-1997 , had joined insurance giant AIG as vice-chairman, external affairs, leading the insurance giant's forays into India and other emerging markets. He recently left AIG to join Patton Boggs, which was recently retained by India to lobby its interests on Capitol Hill and in the new Obama Administration.
Richard F Celeste, the US ambassador in India between 1997-2001, had also joined private sector after retirement and was facilitating the US corporates' strategy in India.