Credit Suisse has announced that Eric Varvel will join the International Wealth Management (IWM) division as Global Head of Asset Management, effective June 1, 2016. From New York, he will succeed Bob Jain, reporting to Iqbal Khan, CEO International Wealth Management, and will be a member of IWM’s Management Committee.
Eric Varvel, who has more than 25 years of experience at Credit Suisse,will spend a significant portion of his time in Switzerland and in various emerging markets, including in the Asia Pacific region, to drive forward the further development of the global Asset Management franchise.
Iqbal Khan, CEO of International Wealth Management, commented: “We are delighted to have such an accomplished senior leader to head our Asset Management business and look forward to working with him in this capacity. We are confident that his global experience, track record and expertise will significantly contribute to the further development of our Asset Management franchise and to the achievement of our ambitious goals. Eric’s strong relationships with many strategic clients will be a great benefit not only to the Asset Management business, but also to the IWM division overall.”
Global Asset Management has a strong US-based Alternative Investments footprint, combined with a leading Swiss-based Core Investments business and a solid foundation in emerging markets. Eric Varvel will be instrumental in growing the firms Alternative Investments franchise, fostering the partnership with the Swiss Universal Bank to further strengthen the bank´s position in Switzerland and accelerating the business’ growth in emerging markets and Europe, he added.
Eric Varvel has more than 25 years of experience at Credit Suisse. He served as a member of the Executive Board from February 2008 to October 2014. During this period, he held senior roles including CEO of the Investment Bank, and CEO of the Asia Pacific and Europe, the Middle East and Africa. Prior to his appointment to the Executive Board, he was the Co-Head of the global Investment Banking division, where he was based in New York. Before that, Eric Varvel spent 15 years building Credit Suisse's footprint in the Asia Pacific region in a variety of senior roles, including Head of Investment Banking, Head of Emerging Markets Coverage and Head of Fixed Income Sales and Corporate Derivative Sales. During that time, he was based in Tokyo, Jakarta and Singapore. Most recently, Eric Varvel served as Chairman of the Emerging Markets and Sovereign Wealth Funds and a senior advisor to the CEO.