One of the top managers at Credit Suisse who is resigning from the bank in the UK is to join Coutts, this publication can exclusively reveal.

Paul Sarosy, who (as reported here yesterday) has resigned his post at Credit Suisse as head of UK domestic clients, is joining Coutts as head of investment solutions, this publication can exclusively report.

In his new role, he will report to Gayle Schumacher, head of Investment Office at Coutts, which is owned by UK-listed Royal Bank of Scotland. He will be responsible for leading product development and Alan Higgins, chief investment officer UK, and Norman Villamin, chief investment officer Asia and Europe, will both report to him. Sarosy is due to take up his post later this summer.

Before Credit Suisse, he worked at Merrill Lynch for 15 years, primarily with private clients.

“Providing our clients with exceptional investment solutions that meet their evolving needs is a key driver in our strategy for growth. Paul [Sarosy] will hold responsibility for our CIOs globally and I am confident that Paul’s extensive experience in investment solutions, combined with the expertise of our CIOs, will be a powerful cornerstone to further develop our international investment proposition,” Schumacher said in an emailed statement to WealthBriefing.  

"Paul’s appointment further demonstrates Coutts’ continued growth plans and complements the recent hires in the products and services team, in the UK and in Asia. Earlier this week, Ken Sue joined Coutts as head of products and services in Asia," she added.

At Credit Suisse, Sarosy has been replaced by Eric Pfister, head of market area UK/international, on an interim basis.

In other recent developments at Coutts, Ken Sue joined earlier this weekas head of products and services in Asia.