Inigo Martos is stepping down from his role as head of private banking Iberia at Credit Suisse, it confirmed in an emailed statement on Tuesday. Martos, who has been with Credit Suisse for almost 19 years, only returned to Spain in January this year to lead the private bank.

Martos could be about to join a small Spanish private bank, «El País» (in Spanish) reported on Tuesday, citing unnamed sources. Credit Suisse said the current chief operating officer for Iberia, Concepción Gomez de Liaño, will replace Martos temporarily. 

Martos' move follows the departure of 15 bankers from the Spanish branch this summer, according to the Spanish outlet. 

European Hub

The Swiss bank which employs 350 staff across its offices in Madrid, Barcelona, Valencia and Lisbon, «remains fully committed to Iberia as a key market and will continue to invest in its Iberia franchise,» it said in the statement.

In the wake of Brexit, Credit Suisse beefed up its workforce in the region, making Madrid a European hub. Swiss rival UBS has gone the other way, selling its Spanish onshore business to Singular Bank in October.