Tidjane Thiam, the new broom at Credit Suisse, has no use for Christoph Brunner. Therefore, the Swiss now leaves his bank of choice after two decades. His current boss, Thomas Gottstein, heaps praise on him.

«Christoph has a passion for banking. He repeatedly displayed his talent to prepare and execute strategic decisions,» Thomas Gottstein, the new head of the Swiss business at Credit Suisse, told employees in a letter, which has been obtained by finews.ch.

With the departure of Christoph Brunner (pictured), another chapter of Swiss banking was closed this week, as finews.ch reported. Brunner was loyal to his employer for 18 years, working in different functions.

Brunner was global head of finance and chief operating officer at the private banking unit from 2006 to 2011, before taking the lead at the private clients business in Switzerland.

Talented Leader With Vision

Gottstein also gives a mention of Brunner's joint lead of the «One-Bank-Strategy» project in 2005 and the merger of private clients and private banking Switzerland in 2013, two complex initiatives executed with vision and deft touch.

In the past years, Brunner repositioned the business with private clients in Switzerland and initiated projects such as Credit Suisse Invest, Bonviva and Hypocenter.

Gottstein also praises Brunner's talent as a leader, motivating employees to excel and promoting a culture of common values and teamwork.

New Broom Thiam

«Personally, I appreciated Christoph Brunner as a competent and valuable partner for discussions, who helped me with words and deeds when I started at the private banking and wealth management unit at the beginning of 2014,» Gottstein said.

Despite all this, Tidjane Thiam didn't find a place for Brunner. Presumably, the new broom wanted to get rid of every single one of the old managers to make the new start the more tangible.

Brunner's is also one in a line of departures, among them of Alois Bättig, Erich Pfister, Urs Gauch, Paul Arni and Barend Fruithof.

CS will inform about Brunner's succession in the coming weeks.