"updatecorrelator" : true Eric Varvel is the CEO and President of Credit Suisse Holdings. // if (typeof(window._mpspixZ) != 'string') { "true" : "false") + "; expires=" + d.toUTCString() + "; path=/"; ZURICH (Reuters) -Eric Varvel, chairman of Credit Suisse's investment bank and head of its U.S. holding company, is leaving the Swiss group where he has worked for three decades, a staff memo seen by Reuters and confirmed by the bank said. September 16, 2022 by Tom Grill. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Your email address will not be published. head = document.head || document.getElementsByTagName("head")[0], mpsload = document.createElement("script"); var _regex = /([^=&/<>()[].,;:s@"]+(.[^=&/<>()[].,;:s@"]+)*)@(([[0-9]{1,3}.[0-9]{1,3}.[0-9]{1,3}.[0-9]{1,3}])|(([a-zA-Z-0-9]+. Varvel was based in Jakarta as country CEO before and during the Asian financial crisis, helping to build Credit Suisse's close ties to Indonesia's big business families.) His wife, Shauna Varvel, has published a book about the renovation process and has been interviewed by The Times to tie-in with its publication. var script = document.createElement("script"); mps._adsheld = []; The Swiss bank is beginning to clear out following a legal investigation into its $10.1 billion Greensill supply chain fund scandal. Irrespective of 2021 pay, Varvel's deferred bonus for 2020 is being clawed back as a result of Greensill. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. What are Singapores best universities for finance? Insiders at the bank also point out that Brandyn Dougan has worked in securitized products for the bank since 2016. After years of renting homes in Provence, Varvel and her family finally took on the renovation of a 200-year-old farmhouse outside Avignon, France. He has been married to a beautiful lady, Shauna. 'cag[type_franchise]' : 'Politics|Banks|Wall Street|Regulations|Corporate Leaders|Legislation|Companies' , mps._queue.adview = mps._queue.adview || []; His zodiac sign is Libra. Whereas intragroup processes and intergroup relations are often assumed to reflect discrete processes and cooperation and conflict to represent alternative outcomes, the present article focuses on intergroup dynamics within a shared group identity and challenges traditional views of cooperation and conflict primarily as the respective positive and negative outcomes of these dynamics. This appears to have been the thought ofShauna Varvel, wife of Eric, former head of Credit Suisse Asset Management. We see shrinkage as a material setback for the overall long-term viability of Credit Suisses investment bank, he added. His FINRA registration suggests he joined Credit Suisse in 2016, directly after graduating. mps._queue.adload = mps._queue.adload || []; 'type' : 'cnbcnewsstory' , head.insertBefore(mpsload, head.firstChild) You have to be passionate about the job, and it's hard to do it really well if you aren't treating it like a lifestyle.". university credit-suisse.com. 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Credit Suisse Group AGs former asset management head Eric Varvel is leaving in the banks latest high-level departure after a year of scandal and huge financial losses. . According to the figures released in the bank's annual report, Dougan was not Credit Suisse's highest paid executive this year that position went to Brazilian-born Antonio Quintella, CEO of Credit Suisse Americas, with 15.6 million francs. TARGETED_ADS: 4, The property is for rent: $12,000 a night. 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After Credit Suisse also lost a further $4.5bn on family office Archegos, despite only earning $17.5m in fees the previous year, incoming chairmanAntnio Horta-Osrio is now contemplating a major shake-up that could involve closing entire divisions of the investment bank or spinning it off altogether. Credit Suisse also confirmed its return on equity (RoE) target of "above 15 percent" stated when the company released annual results, lower than its previous target of "above 18 percent". 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