Credit Suisse has appointed a new chief executive of its UK private banking arm, to fill the position left by Philip Cutts, who stepped down in June.

Credit Suisse has appointed former Royal Bank of Canada senior executive Philip Harris as chief executive of its UK private banking arm, effective December 2014. He fills the position left by Philip Cutts - another ex-RBC senior manager and one-time colleague of Harris - who stepped down in June after three years in the role at the Swiss bank.

Harris was the head of Private Client Wealth Management UK at RBC. Before starting at RBC in 2009, he spent five years at UBS as the head of UK high net worth clients. In 1998, he co-founded IFA boutique Scott Goodman Harris, and prior to that spent nine years working in a number of blue-chip financial businesses including Equitable Life, Scottish Widows and AXA.

"Philip Harris brings to this position proven leadership skills and a deep understanding of the private banking business making him the ideal candidate to continue to expand Credit Suisse’s capabilities and footprint in the UK", said Romeo Lacher, head of private banking EMEA at Credit Suisse.

The appointment comes following a number of high-profile leadership changes for the firm. Earlier this month, Eric Pfister retired. Pfister had been a long-time Credit Suisse employee who most recently head of market region UK/International Private Banking and took over the UK private banking role held by Cutts on an interim basis.

Credit Suisse also appointed Benjamin Cavalli as managing director and market area head, Southeast Asia and head of Singapore location for private banking in the Asia-Pacific region, starting from 1 October. Cavalli replaces Claudio de Sanctis, who will be moving to Credit Suisse’s Private Banking EMEA region as head of private banking for Northern and Eastern Europe.

Romeo Lacher, currently head of private banking in western Europe, will lead the merged unit while Alois Baettig is leaving the firm after stepping down as head of private banking in eastern Europe, Middle East and Africa, according to a separate memo.