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
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
