Tidjane Thiam has resigned from the position of CEO of Credit Suisse Group AG, effective 14 February 2020. The Board of Directors of Credit Suisse Group has unanimously accepted the resignation and appointed Thomas Gottstein as the new CEO of Credit Suisse Group AG.
Thiam will step down following the presentation of the fourth quarter and full-year results 2019.
Urs Rohner, chairman of the Board of Directors, stated: "Under Thiam's leadership, Credit Suisse simultaneously repurposed our strategy, restored our capital, reduced our costs, de-risked our business, promoted diversity and engendered an exceptional level of co-operation between various divisions. Credit Suisse is in good health and we have a deep bench of talent which can build on his achievements."
"Thiam has made an enormous contribution to Credit Suisse since he joined us in 2015. It is to his credit that Credit Suisse is standing on a very solid foundation and has returned successfully to profit."
Gottstein, the newly appointed Group CEO, has more than 30 years of experience in the banking industry, including more than 20 years with Credit Suisse. His track record is based on management roles in Investment Banking (for which he spent 13 years in London) as well as in Private Banking. In his role as CEO of Credit Suisse (Switzerland) Ltd. and member of the Executive Board, he has been responsible for our home market since 2015. During his tenure, the Swiss business increased its contribution to the Group income before taxes from CHF 1.6bn to CHF 2.1bn.
André Helfenstein will succeed Gottstein as the CEO of Credit Suisse (Switzerland) Ltd., effective 14 February 2020 and become a member of the Executive Board of Credit Suisse Group AG. He is currently responsible for our institutional clients business in Switzerland, and is a member of the Executive Board of Credit Suisse (Switzerland) Ltd. and the Swiss Universal Bank Management Committee.