Credit Suisse has appointed Barbara Reinhard as managing director and chief investment strategist for private banking Americas.

Reinhard joins from OppenheimerFunds, where she served as senior vice president and head of investment communications. Prior to that, she spent 19 years at Morgan Stanley in various key positions, including as deputy chief investment strategist for global wealth.

In her new role, Reinhard will be responsible for investment strategy and will work closely with the members of the private banking global research and asset management teams. She will also head the PB Americas investment strategy and advisory unit. She reports directly to Stewart Brenner, the head of PB Americas wealth management solutions.

The announcement comes at a challenging time for the Swiss bank, which is looking to cut 4 per cent of all jobs across all divisions, reportedly equating to about 2,000 positions, to make SFr1 billion of cost savings (around $1.3 billion). The cuts will predominantly be focused on the investment bank, and 500 of those are expected to be made in Switzerland.