create services for private banking clients. The bank's New York-based trust unit will be fully operational by March, and Credit Suisse clients have already committed $100 million of assets to it, according to Barry R. Sloane, regional head of Credit Suisse's private banking for North America. Mr. Sloane has appointed Kathy Nalywajko, chief private banking officer, to run the trust unit. He said Credit Suisse set up the trust unit to meet the needs of existing wealthy clients who hold assets here but may have tax and legal issues to deal with in another country. "While the domestic trust business is so competitive and so commoditized, we think the trust business of the future is global," said Mr. Sloane.
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