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
Credit Suisse CEO Brady Dougan will step down in June after 25 years with the firm.

"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 copy this content. Please contact info@waterstechnology.com to find out more.

Systematic tools gain favor in fixed income

Automation is enabling systematic strategies in fixed income that were previously reserved for equities trading. The tech gap between the two may be closing, but differences remain.

Why recent failures are a catalyst for DLT’s success

Deutsche Bank’s Mathew Kathayanat and Jie Yi Lee argue that DLT's high-profile failures don't mean the technology is dead. Now that the hype has died down, the path is cleared for more measured decisions about DLT’s applications.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here