Paul Calello, the chairman of investment banking at Credit Suisse, died yesterday in his home in New York. The 49-year-old and former chief executive of the firm's investment banking business had been battling with non-Hodgkin’s lymphoma, the firm said in a statement.

"Paul Calello was an outstanding leader and a down-to-earth, very human colleague who forged strong relationships and made a positive difference in the world around him. We will miss him greatly, but his spirit and accomplishments will remain a part of Credit Suisse," said Brady Dougan, chief executive officer at Credit Suisse.