Credit Suisse has appointed investment banker Eric Varvel as chief executive officer of the Europe, Middle East and Africa region.

Credit Suisse has appointed investment banker Eric Varvel as chief executive officer of the Europe, Middle East and Africa region.

Mr Varvel will succeed Michael Philipp, who has been chairman and CEO of the EMEA region for the past three years. He will report to Brady Dougan, CEO of Credit Suisse, and will be a member of the executive board. He will move from New York to London and assumes his role on 1 February 2008.

Mr Varvel will work with the Investment Banking, Private Banking and Asset Management businesses, leading the integrated bank in the region.

Mr Philipp will step down as a member of the executive board to assume a new role as chairman of the Middle East and Africa, focusing on strategic clients in the region, working closely with Mr Varvel. Michael Philipp will continue as chairman of the Environmental Business Group of Credit Suisse.

Mr Varvel will continue as co-head of the Global Investment Banking Department and Head of the Global Markets Solutions Group in the Investment Bank.

Prior to his current appointment in 2004, Mr Varvel spent fifteen years in the Asia Pacific region in a variety of senior investment banking roles.