Jeffrey Peek, former president of Merrill Lynch's global asset management business, has joined Credit Suisse First Boston (CSFB) as vice chairman.

At the same time, Phillip Colebatch, a 17-year veteran of the Credit Suisse Group, is retiring as chief executive officer of Credit Suisse Asset Management (CSAM). The institutional and mutual fund arm of the Credit Suisse Group, has $269bn (€297bn) under management.