Bloomberg News

Credit Suisse’s India Chief Operating Officer Said to Depart

February 02, 2012

Feb. 2 (Bloomberg) -- Shekhar Ganesh, Credit Suisse Group AG’s chief operating officer in India, has left the company, said two people with knowledge of the matter.

Vijay Gussain, India head of equities sales and trading for the Zurich-based bank, is also leaving, said the people, who asked not to be identified because the departures aren’t public.

Credit Suisse, which said last year it would eliminate about 3,500 positions globally to reduce costs, has been cutting jobs at divisions including private banking in India.

Adam Harper, a spokesman for Credit Suisse in Hong Kong, declined to comment on the departures. Ganesh and Gussain couldn’t be reached.

Ganesh joined the Swiss bank in 2006 from Morgan Stanley’s local investment-banking joint venture with JM Financial Ltd. That year, Credit Suisse also hired Mihir Doshi from the Morgan Stanley venture as chief executive officer of its Indian unit.

--With assistance from George Smith Alexander in Mumbai. Editors: Philip Lagerkranser, Mohammed Hadi

To contact the reporter on this story: Ruth David in Mumbai at rdavid9@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net


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