The chief executive of Credit Suisse Americas, Antonio Quintella, has been been appointed chairman of Credit Suisse Hedging-Griffo, the firm’s Brazilian asset and wealth management business.

The chief executive of Credit Suisse Americas, Antonio Quintella, has been been appointed chairman of Credit Suisse Hedging-Griffo, the firm’s Brazilian asset and wealth management business.

The Swiss bank bought a majority stake in Hedging-Griffo in 2007.

“As the former CEO of Brazil and CEO of Credit Suisse Americas, Antonio Quintella is ideally qualified to further develop Credit Suisse’s wealth management business and to deliver the integrated bank to clients in one of our most dynamic growth markets,” the Zurich-listed bank said in a statement today.

In his new role, Quintella will relocate to São Paulo and report to Hans-Ulrich Meister, CEO of Credit Suisse Private Banking, and to Robert Shafir, CEO of Credit Suisse Asset Management. As a result of the changes, Quintella will step down from the executive board of Credit Suisse, effective 31 May.

Robert Shafir has been appointed CEO of Credit Suisse Americas. He will assume this role in addition to his current role as CEO of Credit Suisse Asset Management.

Shafir was CEO of Credit Suisse Americas from 2007 to 2010, the last two years of which he was both CEO of Credit Suisse Asset Management and CEO of Credit Suisse Americas. He will remain a member of the executive board of Credit Suisse.

He joined the firm in 2007 from Lehman Brothers, where he had worked for 17 years.

Quintella joined Credit Suisse in 1997 from ING Barings as a senior relationship banker in the investment banking division and was named CEO of Credit Suisse's Brazil operations in 2003.

(The article was originally published on May 11).