The co-head of fund-linked products in Credit Suisse Group AG's global solutions business, Cameron Hedger, is departing the bank, Thomson Reuters' IFR reported Dec. 8, citing "people familiar with the matter."
The move reflects the bank's plan, announced the day before, to cut costs by more than CHF4 billion by 2018, partly by slashing duplicate roles. Mounir Elarchi will take over sole leadership of the unit, the report noted.
Credit Suisse also appointed Robert Peck head of global internet banking, Reuters reported separately Dec. 8, citing a memo.
Peck joins from SunTrust Banks Inc., where he had led global internet research since 2013. He will report to David Wah, co-head of global technology, media and telecom banking.