Fides Treasury Services, a unit of Credit Suisse, has a new CEO. His predecessor in September decided to switch to the CS Corporate Cash Management division.
The board of Fides Treasury Services appointed Andreas Lutz, 40, as its new chief executive officer, taking charge with immediate effect. He replaces Alain Schmid (pictured below). Fides specializes in the treasury management for corporate customers.
Schmid in September decided to take the opportunity to manage the newly created Corporate Cash Management unit at Credit Suisse (CS). He had been in charge of Fides since 2012. Since the decision was taken, Schmid stayed on in an interim capacity.
Added Responsibilities for Schmid
With the reorganization of the Swiss business at CS, Schmid in January was given an additional responsibility within products and investment services. He will take charge of payment services for corporate and private clients.
His main task presumably will be to provide an appropriate payment solution for companies and private clients in accordance with the bank's digitization program. In addition, the bank also has to get to grips with a string of complex adjustments to the procedures for the Swiss transaction of payments.
Taking Credit
Lutz, Schmid's successor, knows his business well. The new CEO of Fides has been working for Fides and CS for 15 years in total and focused on the distribution, marketing and project management at the CS unit for the past three years. He was appointed as Fides' head of marketing in 2015.
Over the past three years, Fides has expanded its presence globally in markets in the Americas and Asia Pacific. Revenue expanded by almost 80 percent over this period, thanks not least to the efforts of the new CEO.
