NEW YORK, May 9 (Reuters) - Credit Suisse Group (CSGN.VX: Quote, Profile, Research) on Tuesday said it hired Anthony De Chellis, head of private wealth management at archrival UBS AG (UBSN.VX: Quote, Profile, Research), to expand its private banking business in the Americas starting May 22.

De Chellis, taking on a newly created role at Credit Suisse, will be based in New York and report to Walter Berchtold, chief executive of Credit Suisse Private Banking.

At UBS, De Chellis led a team focused clients with ultra-high net worth. Previously he spent 15 years at Merrill Lynch (MER.N: Quote, Profile, Research), rising through the ranks to lead European private banking and Merrill's family office group.

"Our goal is to increase our presence in the U.S., the world's largest wealth market, where we are already making significant progress," Berchtold said in a statement.

Gary Neuser, head of U.S. private banking, and Alexander Siegenthaler, head of private banking in offshore North America, Latin America and the Bahamas, will both report to De Chellis.

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© Reuters 2006.