Credit Suisse replaces head of global markets

Zurich

CREDIT Suisse Group AG's Timothy O'Hara is leaving after 10 months running the bank's largest division and will be replaced by a deputy who leads the trading unit that blindsided chief executive officer Tidjane Thiam with losses earlier this year.

Brian Chin, a 39-year-old based in New York, will take over the global markets unit, becoming one of 11 managers on Mr Thiam's executive board, the Zurich-based bank said in a statement.