Credit Suisse bares key appointment

MANILA, Philippines - Credit Suisse announced that Helman Sitohang has been appointed CEO Asia Pacific, in addition to his existing role as head of the Investment Bank for Asia Pacific. He replaces Eric Varvel, who will become chairman for Asia Pacific and the Middle East Regions. 

The Asia Pacific region is experiencing the highest economic growth of any region in the world, and Credit Suisse is committed to continuing to allocate additional resources to accelerate and maximize its growth opportunities in the region.

All the country CEOs as well as the head of private banking & wealth management Asia Pacific and the heads of equities, fixed income and the investment banking department in Asia Pacific, as well as the Shared Services Heads in Asia Pacific will report to Sitohang, in addition to their functional reporting lines.

Credit Suisse’s business in Asia Pacific has produced excellent results and has tremendous momentum. Varvel has been CEO since 2012 and will continue to play a key role in providing important continuity in the chairman role. 

Sitohang has been instrumental in the success Credit Suisse has achieved in Asia Pacific, particularly in the Investment Bank and in Southeast Asia.

With the strong Asia Pacific management team, increased autonomy and higher resource allocation to APAC, Credit Suisse believes Sitohang will be able to produce outstanding results, demonstrate growth and build on the impressive momentum in the region.

“I believe that we have great potential in Asia Pacific and very strong momentum. Our comprehensive presence in the region, and leading positions in Private Banking & Wealth Management and Investment Banking, means that we can provide a truly focused service to our clients across Asia Pacific. More than any other institution, our clients in the region can benefit from a fully integrated suite of Private Banking and Investment Banking expertise which is difficult to replicate elsewhere,” Sitohang said.

Sitohang will be based in Singapore. During his career with Credit Suisse, Sitohang has been involved in around $150 billion of M&A and capital raising across the globe. He has led the origination of many of the bank’s high profile deals across Asia and Australia. He has been with the bank since 1998.