By Jenny Strasburg and John Letzing

Robert Shafir, Credit Suisse Group AG's chairman of the Americas region, who stepped down from the executive board late last year, is planning to leave the Swiss bank.

Mr. Shafir's planned departure will be effective the end of June, according to people familiar with the matter. It hasn't been internally announced. A Credit Suisse spokeswoman confirmed the planned departure.

Mr. Shafir joined Credit Suisse in August 2007 and was a member of its executive board from then until October last year, when the bank unveiled a restructuring under new Chief Executive Tidjane Thiam.

Credit Suisse said in its 2015 annual report that Mr. Shafir was the highest-paid executive board member last year, earning 7.9 million Swiss francs ($8.2 million), including a bonus of 6.3 million Swiss francs. The report said his compensation reflected "the support that he provided to establish the new strategy" and his work transferring its U.S. private-banking business to Wells Fargo & Co.

Mr. Shafir joined Credit Suisse from Lehman Brothers, where he spent 17 years and held senior positions including head of equities.

At Credit Suisse, he was Americas chief executive before the October shakeup, and also co-headed the private-banking and wealth-management division that has been broken up under Mr. Thiam. Previously, Mr. Shafir was CEO of the asset-management division from 2008 to 2012.

Other planned senior-level departures recently announced from Credit Suisse's U.S. ranks include global head of asset management Bob Jain and U.S. private-banking head Philip Vasan. Employees see Messrs. Shafir, Jain and Vasan as among the few remaining senior executives close to Mr. Thiam's predecessor, former CEO Brady Dougan, according to people inside the bank.

Write to Jenny Strasburg at jenny.strasburg@wsj.com and John Letzing at john.letzing@wsj.com

(END) Dow Jones Newswires

April 14, 2016 10:37 ET (14:37 GMT)

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