Credit Suisse, which exited the US private banking industry last year, has recruited a former UBS family office executive within its new ultra high net worth group.

Charlie Buckley is joining Credit Suisse from UBS in September as head of ultra high net worth coverage, part of a new group focused on clients including family offices, company founders and entrepreneurs.

Buckley was most recently managing director and head of family office coverage for the Americas at UBS, having worked at the Swiss bank for over 20 years. Before taking that role in 2012, he was global chief operating officer of UBS' investment banking division.

In his new role at Credit Suisse, Buckley will work alongside the firm's industry and product bankers, as well as the UHNW lending team, to provide corporate finance, lending and private investing opportunities.

The entire UHNW group will be run by Harold Bogle, chairman of investment banking and capital markets, with Buckley running the UHNW coverage group. 

The move is part of an initiative announced by Credit Suisse in its 2015 October strategic review, and follows its decision last year to exit the US private banking sector through a deal with Wells Fargo.

"This offering will provide coverage of a highly sophisticated group of investors whose needs are beyond those of traditional private banking, and who are looking for unique, differentiated ideas and products," the firm said in an internal memo seen by Family Wealth Report.