Oct. 25 (Bloomberg) -- Credit Suisse Group AG, the second- largest Swiss bank, named Garrett Curran to replace James Leigh- Pemberton as chief executive officer of its British unit.
Curran will take the role in addition to his existing responsibilities as head of fixed-income sales for Europe, Middle East and Africa and chief client officer for the region, Gael de Boissard, co-head of the investment bank, said in a memo to employees today, which was confirmed by a Credit Suisse spokeswoman in London.
“Our U.K. business represents our largest client franchise in EMEA,” said de Boissard in the memo. “It is strategically important to the integrated bank, as a market area and hub for our investment bank and private banking and wealth-management activities in Western Europe.”
Curran, 41, who ran Dresdner Kleinwort’s global finance business until May 2007, joined Credit Suisse in London in 2008. U.K. Financial Investments Ltd., which manages Britain’s stakes in banks, hired Leigh-Pemberton last month to be its executive chairman as the government prepares to cut its holdings.
Credit Suisse, based in Zurich, yesterday posted a smaller increase in third-quarter profit than analysts estimated as earnings at the investment bank tumbled on lower revenue from debt sales and trading.
--Editors: Keith Campbell, Jon Menon.