Thomas departs Credit Suisse
Credit Suisse is on the hunt for a new head of retail funds following the departure of Brian Thomas from the organisation.
“He left Credit Suisse last Thursday to pursue other opportunities. We would like to thank him for his significant contribution to Credit Suisse over the last eight years and wish him well with his future endeavours,” a Credit Suisse spokesperson said.
Head of institutional business with the financial institution John Maragiannis will be responsible for Thomas’s duties in the interim period.
The news comes only months after the company had reorganised its distribution area.
Under the new framework the channel management and direct sales functions are purely focused on sales, with product development now being a stand-alone unit headed by Peter Chun.
Furthermore, neither the business solutions nor the marketing arms are contained in the distribution area anymore.
Thomas’s departure marks the third high profile exit from the company in recent months. It follows former head of retail distribution Chris Larsen’s move to Deutsche Asset Management and the announcement that current chief executive Andrew McKinnon will leave at the end of July.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
