Credit Suisse Group AG lost its Asia-Pacific private banking deputy head of fund solutions and head of alternatives as the Swiss bank reorganizes following the formation of its North and South Asia private banking business, finews.asia reported May 28, citing an unnamed source.

Donald Rice left Credit Suisse as the bank's private banking deputy head in Asia Pacific. Rice had led a team that covered hedge fund, private equity and real estate solutions. Following his exit, Salman Shah was appointed head of alternative fund solutions, the source added.

A spokesperson for the bank declined to comment on the matter.