Paul M. Simons and Peter O. Skoglund have been named as Crdit Suisse’s Co-Heads of Private Banking USA, effective January 1, 2008.
The newly created positions are in recognition of the significant growth of Private Banking USA and replace the regional structure under which the business had operated. Private Banking USA now operates 16 offices across the US, having added locations in Irvine, CA and Rye Brook, NY in 2006, and Northbrook, IL, Greenwich, CT and Philadelphia, PA earlier this year.
“Both Paul and Peter have the rare combination of strategic vision, leadership abilities and energy that will ensure that Private Banking USA continues to build on its strong momentum to become a leading wealth manager in the US,” says Anthony DeChellis, managing director and head of Private Banking Americas, to whom they will report.
Skoglund has led the Central Region of Private Banking USA since 2006 and had previously headed the Chicago office since 1991. Simons joined Credit Suisse in 2006 from Merrill Lynch where he spent 19 years in increasingly senior positions across the firm.
At Credit Suisse, Simons headed Private Banking USA’s Client Solutions Group, comprised of three areas: One Bank Delivery, Corporate and Executive Solutions and Wealth Planning.
Skoglund holds a B.A. from Northwestern University and a M.B.A. from Washington University. Simons holds a B.A. in Political Science from Duke University.
Private Banking USA operates out of 16 offices across the United States and works for a number of hugely wealthy individuals and families.