Bloomberg News reports that people reporting directly to him will maintain their regional and, in the case of derivatives and Delta One, product-reporting lines, according to the memo from Derek Bandeen, the bank’s global head of equities.
Russell had assumed the post at Citigroup last year. He spent more than two decades at the firm and the former Salomon Brothers, the investment bank acquired by Travelers Cos. in 1997 that later merged with Citigroup.
In the meantime, Bloomberg also reports that Credit Suisse appointed at least five executives to senior roles at its Swiss division, including heads of wealth management and investment banking, as it prepares for an initial public offering of the business within two years.
Serge Fehr will head Swiss private banking and wealth management, while Swiss investment banking will be run by Marco Illy, Dominique Gerster, a spokesman for the bank, said Monday.