Swiss banking group Credit Suisse Luxembourg CEO Stéphane Herrmann has stepped down after holding the role for around two years.

Herrmann will be replaced by Raffael Gasser on an interim basis until a permanent replacement is appointed.

Gasser currently serves as the COO of the International Wealth Management Europe unit at Credit Suisse.

Herrmann took up the role of CEO of Credit Suisse (Luxembourg) and also joined the unit’s board in February last year.

Herrmann held various senior roles upon joining the Swiss bank in 2010. He earlier headed Credit Suisse’s private banking APAC business development team and served as the deputy COO and head of business management for private banking in Western Europe.

He formerly also worked as the head of strategy and projects for International Wealth Management.

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Lately, Credit Suisse has made several management changes. In August 2018, the bank hired Makoto Kuwahara from Deutsche Bank to serve as its new Japan CEO.

Earlier this year, the Swiss bank named Michael Marr as its new private banking head in Australia, and David Lim as its new vice chairman of private banking in Southeast Asia.