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Credit Suisse asset management chief steps back amid Greensill fallout

Ulrich Körner will take over on 1 April and report to chief executive Thomas Gottstein

By

Paul Clarke

Eric Varvel (pictured) will work with chief executive Ulrich Körner to ensure a smooth transition and then focus on his roles as CEO Credit Suisse Holdings (USA) and chairman of the investment bank
Eric Varvel (pictured) will work with chief executive Ulrich Körner to ensure a smooth transition and then focus on his roles as CEO Credit Suisse Holdings (USA) and chairman of the investment bank Photo: Getty Images

Credit Suisse’s asset management chief, Eric Varvel, is stepping down as the Swiss bank deals with the fallout from its links with troubled supply finance firm Greensill and will be replaced by a former UBS veteran.

The Swiss bank has named Ulrich Körner as the new chief executive of its asset management unit and will separate it from the wealth management division, the bank said in an 18 March statement.

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