Credit Suisse’s Varvel Leaves Bank After Greensill Scandal (1)

Credit Suisse Group AG’s former asset management head Eric Varvel is leaving in the bank’s latest high-level departure after a year of scandal and huge financial losses.

Varvel, a three-decade veteran of the Zurich-based firm, had already given up much of his portfolio this year after the bank was forced to freeze and wind down a $10 billion group of funds linked to failed Greensill Capital.

Eric Varvel

The 58-year-old had retained his role as chief executive officer of the lender’s U.S. legal entity and chairman of the investment bank, despite other executives losing their jobs, due to ...