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CS top manager resignation |  company financing

CS top manager resignation | company financing

(AWP) Eric Farvell, longtime CEO and current president of investment bank, is leaving Credit Suisse (CSGN 8.49 -2.35%). “On behalf of Credit Suisse, I would like to thank Eric for his contribution to the company over the past 30 years,” CEO Thomas Gotstein said in a letter available to AWP and Reuters on Monday.

Following Varvel’s departure, James Walker will lead Credit Suisse Holdings (USA) Inc. until a further notice. She said Farvell has served in various senior positions in the Asia Pacific, North and South America and EMEA regions. Credit Suisse confirmed the content of the note.

The Financial Times reported last week that Farvell wanted to leave Credit Suisse and that one reason for the move was a rift with the new chairman, Antonio Horta Osario.

Until last spring, Varvel was also head of the fund business, where he was also responsible for working with Greensill supply chain funds. After the funds closed last spring, Farvell resigned as head of asset management and was replaced by Ulrich Koerner.