Credit Suisse CEO Dougan to Step Down, Thiam to Take Over
Dougan, who served as CEO for eight years, will leave in June.
![brady-dougan brady-dougan](/sites/default/files/styles/landscape_750_463/public/import/IMG/618/94618/brady-dougan-580x358.jpg.webp?itok=40BYxwIm)
"With Tidjane Thiam, a strong and distinguished leader with an impressive track record in the global financial services industry will take the helm of our bank," said Urs Rohner, chairman of the board of directors of Credit Suisse, in a statement. "His extensive international experience, including in wealth and asset management and in the successful development of new markets, provides a firm foundation for leading Credit Suisse."
Currently, Thiam is CEO of Prudential, the London-based international financial services group. A native of the Ivory Coast, Thiam spent time working in his native country's government, serving as the minister of planning and development at one point. He also worked for McKinsey & Company, a consultancy firm, and Aviva, an insurance company, before joining Prudential in 2009.
"Credit Suisse has an exceptional business, great people, a solid strategy and strong momentum," Thiam said in a statement. "I look forward to working with the senior management team, the board of directors, and all the employees of Credit Suisse to maintain, further the strong momentum of the franchise and serve our clients in Switzerland and around the world."
For Dougan, who first joined Credit Suisse in 1990, the move marks the end of a quarter-century of work at the Swiss bank.
"We managed quite well through the crisis in 2008, we have anticipated and proactively evolved our business to the new market and regulatory requirements, and have been constructive and a thought leader in many of the new regulatory developments," Dougan says. "As a consequence, the strategic return on equity last year was amongst the highest in the industry and our cumulative net new asset inflows exceeded those of our peers. Now is the right time for the organization and for me to transition out of the CEO role."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
AI could cut time for money laundering checks by 99%
Leading crypto exchange rolling out large language model for enhanced due diligence checks.
Standard Chartered keeps faith with quantum experimentation
The bank is aiming to future-proof itself with the ability to adopt new technology at an early stage.
Waters Wrap: CME, Google and the pursuit of ultra-low-latency trading
CME Group and Google have announced Aurora, Illinois, as the location for the exchange’s new co-location facility. Anthony explains why this is more than just the next phase of the two companies’ originally announced project.
This Week: Genesis/Interop.io; S&P Global; Finos/OS-Climate and more
A summary of the latest financial technology news.
GenAI: US Fed reveals its five use cases
Internal sandbox used to assess viability and risks; coding and content generation on the agenda.
Natixis refines in-house interoperability model
The French asset manager has refined its canonical data model over the last decade, as the interoperability movement continues to evolve.
UK asset manager: AI in macro trading ‘very overblown’; useful for nowcasting
The managing partner of Fulcrum Asset Management said that the firm has been developing nowcasting tools that even central banks have consulted on.
The coming AI revolution in QIS
The first machine learning-based equity indexes launched in 2019. They are finally gaining traction with investors.