An academic and diplomat as well as a banker, Mulford was a treasury official in Ronald Reagan’s administration, treasury under-secretary to the first President Bush, a London-based dealmaker and a financial adviser to Saudi Arabia.
He has won the Alexander Hamilton award — one of America’s highest honours — for his service to the US Treasury department and has received similar accolades from France, Poland and Argentina.
Since joining Credit Suisse in 1992, Mulford has formally directed global strategy across the Swiss bank’s investment-banking and capital-markets businesses. He has also chaired its European and Latin American executive committees. He gave up direct responsibility for the bank in Europe last year.
Mulford is the second senior executive to leave CSFB in the past few weeks. Jeff Peek, head of the financial-services division, has resigned after just 18 months.
Peek is to join CIT Group, the American consumer- finance company, where he is expected to be groomed as the future chief executive.
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CSFB recruited Peek from Merrill Lynch in 2001 after he lost the succession battle to head the bank to Stan O’Neal. Peek’s role at CSFB was greatly reduced by the sale last year of Pershing, the transaction-processing business.
Mulford’s appointment as American ambassador to India is subject to approval by the US Senate.
CSFB declined to comment.