Credit Suisse Investment Banker Paul Calello Falls Ill

Credit Suisse made the following anouncement in a press press release today:

Zurich, September 2, 2009 Credit Suisse today announced that Paul Calello, CEO of the Investment Bank, has begun an intensive program of treatment due to the development of a sudden and unexpected illness. Paul will remain as involved in the business as his course of treatment process will allow. Eric Varvel will serve as acting CEO of the Investment Bank on an interim basis. Eric will continue to be based in London and maintain his role as CEO of the EMEA region.Brady W. Dougan, CEO of Credit Suisse said: ”Our first and most important priority is for Paul to get well and we will do everything we can to support him. Paul will remain engaged with the business to the extent that his treatment permits. I am very grateful that Eric Varvel has agreed to take on the role of interim CEO of the Investment Bank. Eric is very well suited to the task with his many years of experience in the Investment Bank. He will remain based in London and will continue as CEO of the EMEA Region. Paul and Eric will consult closely, working together and with me to set the strategic direction of the Investment Bank. We have made significant progress in implementing our client-focused, capital-efficient strategy and we continue to have an exceptional opportunity to further develop and grow our key client businesses. We wish Paul a speedy recovery and look forward to seeing him back in his role full-time as soon as possible.”