Credit Suisse has moved Rob Shafir up to be chief executive of its asset management division. He takes over from David Blumer, who is off to Swiss Re. Mr Shafir assumes his new responsibilities immediately but will also continue in his current roles as chief executive of the Americas region and as a member of the executive board of Credit Suisse. He reports to Brady Dougan, chief executive of Credit Suisse. Mr Dougan said: "Asset management is core to our strategy as an integrated bank. The challenging markets that have existed since the middle of 2007 offer Credit Suisse enormous opportunities to progress our strategy, and Rob is committed to leading the asset management business in pursuit of this goal". Mr Shafir joined Credit Suisse in 2007 from Lehman Brothers, where he worked for 17 years in a number of senior roles. Most recently, he was head of equities and a member of Lehman's executive committee. Prior to that, he worked at Morgan Stanley.