Credit Suisse has hired two managing directors to cover its Russian private banking business out of Zurich and Moscow, bucking the trend of peers opting to cover the region from London.

Michael Knoll joins as a managing director and head of Credit Suisse's onshore Russian private banking business. Knoll will be based in Moscow and report to Felipe Godard and Steven Hellman. Godard is market area head of private banking for Russia, central and eastern Europe, Greece and central Asia, while Hellman is chief executive of Credit Suisse in Russia.