The statement, which is understood to have been issued in response to press reports out of the Gulf, said Yammine had joined the Swiss bank in September, 2007, and had “played a significant role” in driving Credit Suisse’s investment banking business in the region over last five years.
Yammine has been based in the Dubai International Financial Centre, and according to press reports, he will stay with Credit Suisse until the end of the year to assist in the handing over of his duties.
Yammine is said to be among the most senior banking figures in the Gulf, and his departure is seen as coming as many major US and European banks have been cutting back on their investment banking operations in the region, in response to waning market conditions.
Credit Suisse did not say whether a successor to Yammine had been named.
Yammine’s co-chief executive is Bruno Daher.
Credit Suisse has been active in the Middle East for more than four decades, with offices in such markets as Saudi Arabia, Beirut and Cairo in addition to its Dubai regional headquarters.
As reported, the company opened an office in Bahrain in 2010.
