Credit Suisse has appointed Pablo Carrasco as head of Wealth Management Iberia to drive the bank’s growth plans in the ‘strategic market’.

Based in Madrid, Carrasco will report to Credit Suisse head of Wealth Management Europe Robert Cielen.

Carrasco started his career with Credit Suisse in Spain and has been with the bank for about 15 years. During this time, he has served in a number of key roles and has also gained experience in the UK, Asia and Switzerland.

Most recently, Carrasco was responsible for leading the bank’s efforts with Family Offices in Europe.

Before that, he was head of Advisory and Sales for Southern Europe.

Commenting on the appointment, Credit Suisse head of Wealth Management Europe Robert Cielen said: “We are excited to announce Pablo Carrasco as the new Head of Wealth Management Iberia.

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“With two decades of wealth management experience, a deep knowledge of our client needs and our business, I am confident that Pablo will be successful in further developing our presence in Iberia, where we have been serving our clients locally for over 30 years. We will continue to invest, grow and hire in this key market, which is of strategic importance to the bank.”

Carrasco succeeds Concepción Gómez de Liaño, who has been leading Iberia Wealth Management on an ad interim basis after Iñigo Martos departed the bank in mid-December.

The bank said that Liaño and Carrasco will work closely to ensure a seamless transition.

Last month, Reuters reported that Credit Suisse’s investment bank chairman and Credit Suisse Holdings (USA) CEO Eric Varvel is stepping down after 30 years of service.