A long-serving executive has left the Swiss bank and passed the reins onto a regional private banking chief executive.

Steven Hellman, Credit Suisse's chief executive for Russia and the Commonwealth of Independent States, has left the bank. He has been replaced by the firm's private banking chief for Russia.

Hellman originally joined Credit Suisse in 1997 and moved to Russia in 2007 when he became a member of the board of directors of the regional bank. He stepped into the role of regional CEO in 2010. Hellman left earlier this month to “pursue other opportunities outside the bank”, it confirmed.

Dimitri Kushaev, previously Credit Suisse's CEO of private banking in Russia, has been appointed as his successor. 

The news comes shortly after Nathan Romano, who led the collaboration strategy for Credit Suisse’s investment and private banking operations in the Americas, left the Swiss bank amid its retreat from managing money for US clients.

Last year, chief executive Tidjane Thiam enforced a raft of structural changes, including a greater focus on the firm's private banking and wealth management franchise in emerging markets.

The Zurich-listed lender recently reported a SFr2.94 billion ($2.95 billion) net loss for 2015, prompting a sharp sell-off in its shares.