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New Credit Suisse investment-bank chief needs axe

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David Miller is taking over as investment banking chief at Credit Suisse. Although his top priority is to stop losing market share in key businesses like advising on deals, costs still look high. There’s an argument for more cuts, writes LiamWardProud:

Credit Suisse on Nov. 11 appointed David Miller as chief executive of its investment banking and capital markets business.

Miller, who was recently global head of credit, replaces James Amine, who is stepping down to take on a newly created job as the New York-based head of private credit opportunities. Miller joined the company through its 2000 merger with U.S. investment bank Donaldson, Lufkin & Jenrette, where he worked in the Los Angeles office.

Eric Varvel will become chairman on Credit Suisse’s investment bank, while keeping his current role as head of asset management.

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