SINGAPORE (Reuters) – Swiss bank Credit Suisse is set to appoint its Asia Pacific investment banking co-head, Edwin Low, as its new chief executive for the region, replacing veteran banker Helman Sitohang, two sources familiar with the matter told Reuters.
Sitohang, who has been the CEO of Credit Suisse’s regional business since 2014, will take on a new role and report to the bank’s global CEO, one of the sources said.
The sources declined to be named as Credit Suisse has not announced the appointment.
Credit Suisse said it was regularly discussing succession plans and reviewing senior appointments for certain positions, as it implements a new strategy and structure, as announced late last year. But no board decisions have been taken, it said.
Singapore-based Low, who is also the bank’s Southeast Asia CEO, has risen from the ranks after joining Credit Suisse as an associate in 1996.
Bloomberg earlier reported news of the moves at Credit Suisse.
(Reporting by Anshuman Daga, Editing by Louise Heavens)