Credit Suisse says Prudential head Thiam will replace CEO Dougan

Credit Suisse says Prudential head Thiam will replace CEO Dougan

Credit Suisse have just announced that they have hired Tidjane Thiam as its new CEO, a move which has made Thiam to be the first Africa to ever lead a global investment bank.

According to Urs Rohner, the chairman of Credit Suisse, the current CEO of the company, Brady Dougan will be stepping down from his position at the end of June this year and will be replaced by Thiam, a former government minister in Ivory Coast who has led the company since the year 2009.

"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," the chairman of the company said in a statement.

Rohner went on to add that the international experience that Thiam has, expesially when it comes to wealth as well as asset management and knowledge of developing markets laid the foundation of his appointment as the company’s CEO.

The company’s current CEO, Dougan, who has spent 25 years at the Credit Suisse, 8 of which he was the CEO of the company, has been under pressure to give up his position ever since last year when the company reached a settlement with the U.S. authorities that saw it pay up $2.5 billion for helping evade taxes via secret bank accounts.
"Now is the right time for the organization and for me to transition out of the CEO role," Dougan said in a statement, adding that he has "tremendous respect" for his Thiam who will be replacing him.


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