Makoto Kuwahara from Deutsche Bank has been hired as the new Credit Suisse CEO to head the Swiss bank’s business in Japan.

Kuwahara will assume the new responsibility in November this year, with responsibility for managing businesses and regulatory activities at the Japan unit.

In the new role, he will report to Credit Suisse Asia Pacific CEO Helman Sitohang.

Who is the new Credit Suisse CEO?

At Deutsche Bank, Kuwahara has spent over two decades in various roles. This includes the role of chief country officer in Japan, which he has held since 2013, and the president of Deutsche Securities.

Kuwahara will be replaced at Deutsche Bank by Tamio Honma, who currently serves as the bank’s co-head of the institutional client group (ICG) for Asia-Pacific. Honma will retain his current position.

Deutsche Bank Asia Pacific CEO and management board member Werner Steinmueller said: “With over twenty years tenure at the firm, Tamio brings considerable depth of experience to the role, having held senior Global Markets management positions both within Japan and regionally.

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“Given that he will also continue in his capacity as APAC Co-Head of ICG, he is very well positioned to ensure that our Japanese clients are best served across the breadth of our comprehensive platform globally and that our overseas clients have access to the full depth of our capabilities in Japanese markets.”