Credit Suisse has named a new chief executive in Asia from Standard Chartered to replace its previous head for the region, who was promoted to global head of investment banking four months ago.

The Swiss bank has appointed Kai Nargolwal as chief executive for the Asia-Pacific region. Nargolwal joins from Standard Chartered bank where he has spent 10 years, most recently in charge of its governance in Asia and its global risk and special asset management units. He also led Standard Chartered's mergers and acquisition activities in Asia.