Eric Varvel was named chief executive officer of Credit Suisse’s investment bank and he will serve as a member of Credit Suisse Group's and Credit Suisse's executive boards.

Varvel will be based in New York.

Paul Callelo, meanwhile, was named chairman of the investment bank at Credit Suisse.Previously he was CEO of the investment bank and member of the executive board of Credit Suisse Group and Credit Suisse.

Varvel was most recently acting CEO of the investment bank; he was also CEO of Credit Suisse’s Europe, Middle East and Africa (EMEA) region and a member of the executive board. Varvel was appointed acting CEO of the investment bank in Sept. 2009.

Before being appointed CEO of the EMEA region in February 2008, Varvel was co-head of the global investment banking department and head of the global markets solutions group in Credit Suisse’s investment bank for over three years.

Varvel joined Credit Suisse in 1990. Previously, he worked as an analyst for Morgan Stanley in its investment banking department in New York and Tokyo. He is a member of the board of directors of Qatar Exchange.