Credit Suisse CEO Dougan to Step Down, Thiam to Take Over
Dougan, who served as CEO for eight years, will leave in June.
"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.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
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. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Agentic AI and big questions for the technologists
Waters Wrap: Much the same way that GenAI dominated tech discussions over the last two years, the road ahead will feature a lot of agentic AI talk—and CIOs and CTOs better be prepared.
Waters Wavelength Ep. 302: Connectifi’s Nick Kolba
Nick joins the show to give his views on trends in the interoperability space and the FDC3 standard.
AI co-pilot offers real-time portfolio rebalancing
WealthRyse’s platform melds graph theory, neural networks and quantum tech to help asset managers construct and rebalance portfolios more efficiently and at scale.
Waters Wavelength Ep. 301: SIX’s Javier Hernani
Javier Hernani, head of securities services at SIX, joins to discuss everything T+1.
Bloomberg debuts GenAI news summaries
The AI-generated summaries will allow financial professionals to consume more data, faster, officials say.
8 bank CTOs and CDOs sound off on artificial intelligence
Waters Wrap: Last year, WatersTechnology spoke with heads of technology and data from a range of tier-1 banks. Anthony pulls at one common thread from those interviews: AI.
Waters Wavelength Ep. 300: Reflecting on humble beginnings
It is our 300th episode! Tony and Shen reflect on how it all started.
An inside look: How AI powered innovation in the capital markets in 2024
From generative AI and machine learning to more classical forms of AI, banks, asset managers, exchanges, and vendors looked to large language models, co-pilots, and other tools to drive analytics.