The two bankers in charge of Credit Suisse’s wealth division have stepped down as part of a restructuring that has put Iqbal Khan, a former EY consultant, in charge of its international development.

Credit Suisse said that former Lehman Brothers banker Robert Shafir, who joined to take charge of Credit Suisse's Americas business in 2007, and Hans-Ulrich Meister, who stepped down as head of business banking at UBS to run its Swiss franchise a year later, are stepping down as co-heads of private banking and wealth.