European bank turns to a former U.S. Trust business-development executive. Credit Suisse has hired former U.S. Trust executive Phil Swatzell to run its private-banking office in Dallas. He reports to Peter Skoglund, head of Credit Suisse Private Banking USA 's central region.

"Phil is the perfect choice to lead the continued growth of our business in the rapidly expanding Dallas market," says Skoglund. "He is a great addition to our team, having been highly successful for more than 25 years in the investment-banking and wealth-management industries."

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Now responsible for expanding Credit Suisse's U.S. wealth-management business in and around Dallas, Swatzell had been in charge of business development in U.S. Trust 's southwestern U.S. region. Though he started his career in Dallas with Solomon Brothers (now part of Citigroup's Smith Barney), he spent the better part of two decades in Chicago working for Solomon, Credit Suisse First Boston and Dearborn Partners, before returning to Dallas to work for U.S. Trust.

U.S. Trust has been losing wealth managers at a fair clip since it merged with Bank of America in July 2007.

Credit Suisse Private Banking USA, part of Credit Suisse Securities, has 16 offices in the U.S. -FWR

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