Credit Suisse First Boston CSFB has appointed Stephen Volk as its new vice chairman, following last week's arrival of John Mack as chief executive officer, and his restructuring of the business.
Volk, who joins CSFB on August 1, will also be a member of the firm's executive board. He will work with Mack on the day-to-day management of the firm.
Last week Credit Suisse Group (CSG) announced the appointment of former Morgan Stanley president John Mack, following the shock departure of Allen Wheat. With Mack's appointment, CSG also announced that it would was restructuring its businesses, combining the group's investment banking and asset management operations under Mack's control.
Volk joins CSFB from the New York based law firm Shearman & Sterling. At Shearman & Sterling, he was senior partner, and during his time the firm grew by more than 70%. He joined the law firm in 1960 and was made a partner in 1968.
Speaking about Volk's appointment, Mack said: We are fortunate to have someone of Steve's rare ability joining CSFB. He is widely regarded by leading CEOs and corporate boards as one of the most trusted advisors to companies undergoing rapid change and growth. Steve's unique ability to build a sense of shared purpose among diverse groups of people will be invaluable as everyone at CSFB works together to forge a unified team.
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