People News: Credit Suisse, UBS

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Rob Shafir will remain at Credit Suisse as chairman of the Americas even as he steps down from the bank’s executive board.

Bloomberg News reports that Shafir, 57, will continue to report to Chief Executive Officer Tidjane Thiam, a spokeswoman for the bank, Vanessa Neill, said Tuesday in an e-mail.

Credit Suisse said last month that Shafir, who’s based in New York and co-head of private banking and wealth management, was leaving the board as part of a management overhaul.

In the meantime, Bloomberg also reports that UBS said its head of investment banking in Brazil, Carolina Lacerda, is leaving the firm Tuesday.

Lacerda’s departure came almost three months after the bank restructured its Latin American business as industrywide revenue from investment banking in the region fell. UBS said in a statement Tuesday that those changes were part of an expansion plan for South America.

Credit Suisse's Shafir to Remain at Bank as Chairman of Americas

UBS's Lacerda Leaves as Head of Brazil Investment Banking

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