Credit Suisse has promoted Luigi De Vecchi to the position of chief executive for Italy, adding asset management and private banking to his existing remit of head of investment banking for the Swiss bank in Italy. In his new role he will report to Michael Philipp, head of EMEA, who said that Mr De Vecchi's appointment highlighted Credit Suisse's commitment to the Italian market. Tino Rampazzi will continue as head of Italian private banking and Matteo Bosco will continue to head up the asset management division. Mr De Vecchi joined Credit Suisse in 2004 from Goldman Sachs.