Credit Suisse Group (CS) said Wednesday the head of its investment banking operations in Germany and Austria, Martin Korbmacher, will leave at the end of this month.

The Zurich-based bank didn't comment on the reasons for the 45-year-old Korbmacher's departure; however a source familiar with the situation said he is leaving for personal reasons.

Korbmacher will be replaced by Ken Fritz and Torsten Murke as co-heads. Fritz is currently head of mergers-and-acquisitions in Germany and Austria, while Murke is currently head of coverage for the same region. The positions of Harald Epple, head of fixed-income in Germany and Austria, and Lorne Campbell, head of equities, remain unchanged by Korbmacher's exit.

-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043; katharina.bart@dowjones.com
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