Credit Suisse's U.S. asset management arm has a new head. Rob Shafir has been named CEO of the division effective Wednesday. He is also already the CEO of the Americas region. Shafir replaces David Blumer, who took a position at Swiss Re. Shafir, who has been with Credit Suisse since 2007 and in the past has worked for Lehman Brothers and Morgan Stanley.

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Company Press Release

Credit Suisse Group announced today that Rob Shafir has been appointed CEO of the Asset Management division. Mr. Shafir is assuming the role from David Blumer, who has accepted a senior position at Swiss Re.

Brady Dougan, CEO of Credit Suisse, said: "Asset management is core to our strategy as an integrated bank. The challenging markets that have existed since the middle of 2007 offer Credit Suisse enormous opportunities to progress our strategy, and Rob is committed to leading the asset management business in pursuit of this goal". Mr. Dougan continued: "I wish Rob every success in his new role and I want to thank David for his considerable efforts in restructuring the asset management business and making it an important part of our integrated bank during a critical period as we built our new business model."

Rob Shafir assumes his new responsibilities as of today, and will also continue in his current role as CEO of the Americas region. He will continue to be a member of the Executive Board of Credit Suisse, reporting to Brady Dougan.

Rob Shafir joined Credit Suisse in 2007 from Lehman Brothers, where he worked for 17 years and served in a number of senior roles. Most recently, he was Head of Equities and a member of Lehman's Executive Committee. He also was Head of European Equities and Global Head of Equities Trading and played a key role in building Lehman's equities business into a global, institutionally focused franchise. Prior to that, he worked at Morgan Stanley. 

Edited by: Erin Kello


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