Credit Suisse has named one of its existing top managers, Osama Abbasi, as chief executive of the Asia Pacific region and a member of the executive board of the Zurich-listed bank, reporting to CEO Brady Dougan, effective from 1 October 2010.

 The current regional CEO, Kai Nargolwala, will take on the new role of non-executive chairman of Credit Suisse Asia Pacific on the same date, Credit Suisse said.

Abbasi is at present head of the equities department of the investment bank in the region. In his new role he will oversee the execution of the bank’s strategy in Asia Pacific and will be responsible for both divisional and country performance.

Abbasi joined Credit Suisse Financial Products, the former derivatives subsidiary of Credit Suisse First Boston, in 1996 from Bankers Trust. Nargolwala joined Credit Suisse in January 2008 as Asia Pacific CEO. In this role, he was responsible for all of Credit Suisse’s activities in the region including the private banking, investment banking and asset management businesses.

Abbasi will remain based in Hong Kong and Kai Nargolwala will relocate to Singapore.