ZURICH – His resignation was already anticipated by several news portals (primarily the Financial Times) last weekend, and official confirmation arrives today in a press release written by Credit Suisse.
Eric Farfel, the heavyweight US manager and longtime employee of the Swiss giant, has resigned today. Over the years he was a member of the board of directors in various positions and was one of CS’s most important contacts with Qatar. His last major role was in charge of investments in the United States.
“On behalf of Credit Suisse, I would like to thank Eric for his contribution over the past 30 years with the company,” CEO Thomas Gotstein said in an internal Reuters release.
Some problems with the new line of business and disagreements with Managing Director Antonio Horta Osorio to revive the Swiss establishment after the financial scandals of Archus and Grensell led to the director’s decision.
And it was the Grensell case that cost Farvell dearly, who was in charge of the sector in question at the time of the collapse of the more than $10 billion fund he had secured. After the disaster, she was demoted.
The name of the top US manager, Keystone-Ats reports, has been mentioned several times in the past by the Swiss portal Insideparadeplatz, which calculated the compensation that Varvel has collected at Credit Suisse at more than 100 million.
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