Credit Suisse has announced a series of appointments to its executive board in a widely anticipated senior management overhaul.
Credit Suisse chief financial officer David Mathers will «seek alternate opportunities» outside the bank, according to a statement, after holding the position since 2010 in addition to his role as CEO of Credit Suisse International since 2016.
The bank said that Mathers had agreed to continue his responsibilities «until suitable successors for both of his roles have been found, ensuring an orderly transition», adding that an internal and external search for a successor has already been launched.
As reported by finews.com, Markus Diethelm (pictured above) joins as general counsel to succeed Romeo Cerutti, effective July 1 this year, after the latter held the role for more than a decade. Diethelm will also join the executive board and report directly to group CEO Thomas Gottstein.
Regional Shuffle
The bank also announced a reshuffling of regional roles including the appointment of Francesca McDonagh (pictured above) as CEO of Europe, Middle East and Africa (EMEA) region, succeeding Francesco De Ferrari, wealth management CEO, who has held the position on an ad interim basis since January 2022.
Asia Pacific CEO Helman Sitohang also announced his intention to step down from the role and he will be succeeded by current APAC co-head of investment banking Edwin Low (pictured below).
Sitohang will also step down as an executive board member but he will remain with the bank as a senior advisor to Gottstein, focusing on core clients and strategic development in the APAC region, as well as serve on the region's advisory council.
