HONG KONG—Vikram Malhotra has been named executive vice chairman for Asia Pacific at Credit Suisse Group AG and will oversee a new unit catering to wealthy entrepreneurs in the region.

Mr. Malhotra, who most recently ran investment banking for Asia Pacific, will lead a new unit focused on the bank's "most significant" ultra-high-net worth entrepreneur clients, according to an internal memo viewed by The Wall Street Journal. His mandate will be to grow activity both in the investment and private bank among such clients, according to the memo.

He will be replaced by Mervyn Chow and Edwin Low as co-heads of the investment bank and capital markets department in Asia Pacific, according to a source familiar with the matter. They will be responsible for coverage of corporate clients.

Mr. Chow was most recently head of Credit Suisse's global markets solutions group in Asia Pacific, while Mr. Low was most recently co-head of Southeast Asia in its investment banking department.

Write to Julie Steinberg at julie.steinberg@wsj.com

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(END) Dow Jones Newswires

November 17, 2015 00:05 ET (05:05 GMT)

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