Paul Simons, a 19-year Merrill Lynch veteran who was key in building its private banking business, has joined Credit Suisse as managing director, and head of client relationship management and development for private banking Americas. Simons, who joined the bank's New York office, is responsible for bringing in new regional business. His hire is part of the bank's growth push in the U.S. and Latin America. Calls to Simons were referred to a spokeswoman, who did not return calls on future plans to grow staff.

At Merrill, Simons was a managing director responsible for building the private banking business for ultra-high-net-worth individuals and families. The firm is in the midst of combining its institutional and private client business into a one-bank structure (PAM, 2/25/05). Simons reports to Tony DeChellis, head of Private Banking Americas.