Credit Suisse Group’s Brazilian subsidiary has appointed Marcello Chilov as its new CEO, Reuters has reported.

In January this year, the lender had named Chilov, along with Ivan Monteiro, as interim co-CEO of Credit Suisse Brasil.

Monteiro, ex-CEO of state-run oil firm Petrobras, has now been appointed as chairman of the unit’s wealth and investment banking business.

Following the new appointment, both Chilov and Monteiro will report to Credit Suisse investment bank and Americas CEO, Christian Meissner.

They will also remain board members of Credit Suisse Brasil, which is headed by Ana Paula Pessoa.

Chilov will continue to lead the bank’s wealth management unit in Latin America and will report to wealth management division CEO Francesco De Ferrari.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The latest development comes as the Swiss wealth manager is mulling to axe thousands of jobs globally to overhaul its dwindling business, stated a recent Bloomberg report.

The cuts are expected to reduce overall cost of the lender by another $1bn.

Last month, Credit Suisse had named Roger Suter to lead its private banking division in Switzerland.  

Suter, who succeeded existing manager Serge Fehr, has been a part of Credit Suisse since 1993. In 2012, Suter was designated as the regional head of Central Switzerland.