Fund management giant BlackRock has hired veteran Credit Suisse banker Philip Vasan as head of investments and portfolio solutions for its US wealth advisory unit.
Vasan, who was associated with the Swiss private banking giant for 23 years, was most recently head of its private banking business for the Americas. Credit Suisse’s US unit is currently being wound down as part of a wider restructuring.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Previously, he also headed Credit Suisse's global equity derivatives and convertibles business.
He will take over the new role in September 2016 and will be responsible for developing products and portfolios for private banks and independent wealth advisors.
Vasan will report to BlackRock head of US wealth advisory Salim Ramji.
Ramji said: “Clients want both active and index. Our strategy going forward is to offer advisors the range of solutions they need – and in the process create deeper and stronger relationships.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHe added that Vasan's experience with the private banking and wealth management community had been crucial in his appointment.
