Credit Suisse in the US has appointed Philip Vasan, who has run its brokerage for the past decade, to run the firm's private bank division in the Americas, a report said.

Credit Suisse in the US has appointed Philip Vasan, who has run its brokerage for the past decade, to run the firm's private bank division in the Americas, the bank has confirmed to this publication. 

Vasan will start his new role in April, reporting to Credit Suisse executive Rob Shafir in New York. Shafir is global co-head of private banking and wealth management.

Vasan will oversee the firm's private banking business in the US, Canada and Latin America.

The Zurich-listed bank is also promoting Paul Germain, one of Vasan’s key hires, to become the bank's new head of prime brokerage. Germain joined Credit Suisse from Goldman Sachs, where he was a partner, in 2010.

Credit Suisse's head of the private bank in the Americas, Anthony DeChellis, will step down from his role. He's expected to be offered a role to stay within the private bank in another capacity.