Credit Suisse appoints Tidjane Thiam as CEO

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Credit Suisse has announced the appointment of Tidjane Thiam (pictured) as its new CEO as from the end of June. He will replace Brady Dougan who headed the firm during eight years. Credit Suisse said Thiam has been chosen after a thorough evaluation process, which included internal as well as external candidates.

Thiam, who has both French and Ivorian citizenships, moved from the British international financial services and insurance group Prudential he joined in 2008. He worked for Prudential as chief financial officer and group chief executive.

Formerly, he worked at Aviva, holding several positions such as group strategy and development director, managing director of Aviva International, group executive director and CEO, Europe from 2002 to 2008. Before, he held positions at McKinsey & Company in Paris and New York, serving insurance companies and banks.

Thiam also worked for the government of the Ivory Coast where his final position was minister of planning and development, before returning to France as a partner with McKinsey & Company.

Thiam has been appointed as a British business ambassador in January 2014 and has been awarded the Légion d’Honneur by the French president Nicolas Sarkozy in July 2011. In January 2012, he was appointed to the Prime Minister David Cameron’s business advisory group and has been a member of the European financial services round table (EFR) since January 2013.

“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. 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. As CEO, he led Prudential to great success in challenging times,” said Urs Rohner, chairman of the board of directors.

Rohner has also congratulated Dougan for his work as Credit Suisse’s CEO : “We are extremely grateful to Brady Dougan for his exceptional commitment, unparalleled personal contribution and leadership to Credit Suisse over many years. Brady has significantly and successfully shaped our company; he has kept our bank on track in recent years despite a complex environment and considerable headwinds in the global financial services industry. Brady and his management team have mastered even the most difficult challenges together.”

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