ZURICH (The WSJ) -- Credit Suisse Group on Friday appointed investment banker David Mathers as its new financial head, replacing Renato Fassbind, who plans to retire Oct. 1.

The 44-year-old British-born Mr. Mathers is currently chief operating officer and financial head of the Zurich-based bank's investment-banking unit, which provides the bulk of Credit Suisse's profits.
“David brings an extensive knowledge of the investment-banking division's strategy, expense management and project services, and has many strong relationships in the investment community,” Credit Suisse Chairman Hans-Ulrich Doerig and Chief Executive Brady Dougan wrote to employees Friday in an internal memorandum.
Mr. Fassbind, 55, will remain a senior Credit Suisse advisor after his retirement, the bank said.
Mr. Mathers, who worked as Credit Suisse's co-head of European equities and European equity research before his current position, has become an increasingly familiar face to investors. Last month, he gave an investor presentation at a major brokerage conference, voicing confidence on Credit Suisse's investment banking prospects.
Credit Suisse investors are expected to grill management Friday at the bank's annual shareholder meeting over bonus practices at the bank, which has emerged from the financial crisis in much healthier condition than most rivals.
(Source: The WSJ)