Zurich---Credit Suisse announced on Tuesday that its Chief Executive Officer Brady Dougan will step down at the end of June after an eight-year term, to be replaced by Tidjane Thiam, currently chief of UK-based insurer Prudential Plc.
Dougan steered the bank through the financial crisis and through a tax evasion probe by the US Justice Department that eventually saw the Swiss banking giant slapped with a $2.8 billion fine.
The US national joined Credit Suisse First Boston in 1990, heading the equities business and, following the merger with Credit Suisse in 2005, was appointed to the top job two years later.
Thiam, a dual French-Ivory Coast national, was born in the African country but grew up in France, where he attended some of the country's most prestigious schools, including Ecole Polytechnique, before joining the McKinsey consulting firm.
He worked for the government of Ivory Coast and for the Aviva insurance company before joining Prudential in 2008 as chief financial officer, becoming CEO the following year.
AFP
