The private banking sales of Credit Suisse will be supported by Kamran Butt with market research after spending six years in Dubai.
"Other analysts from outside the Middle East will be covering the local market here," Reuters quoted an anonymous source as saying.
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Further, Reuters’s report added that Credit Suisse has confirmed Butt’s departure, adding that it remained committed to the Middle East and North Africa region.
Reuters quoted a bank spokesman as saying "Kamran Butt is relocating to Switzerland to take on a new role as investment strategist, advisory and sales for Middle East and Africa, and the Indian subcontinent. The bank is looking to replace the role locally."
Meanwhile, Credit Suisse has also unveiled measures to boost its capital base in response to criticism from the central bank.
The bank has also announced new cost cuts, including at the investment bank.
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