Credit Suisse appoints new executives to board

Credit Suisse announced the appointment of several new executives to its board on Monday.

The bank confirmed the appointment of Dixit Joshi as CFO, Francesca McDonagh as COO and Michael J. Rongetti as ad interim CEO of the Asset Management division.

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Wealth Management division CEO Francesco De Ferrari has also been confirmed as CEO of Europe, the Middle East and Africa after serving in the role on an ad interim basis since January 2022.

Additionally, Michael Bonacker has been appointed as group head of transformation. He is scheduled to take up the position on 1 September 2022, and will report to McDonagh.

Joshi, McDonagh and Rongetti will report directly to Credit Suisse CEO Ulrich Körner.

Joshi is set to replace David Mathers on 1 October 2022, who will be resigning after over 11 years in the position. Joshi will re-join Credit Suisse after five years spent working at Deutsche Bank to overhaul the company’s balance sheet.

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McDonagh will be moving from her previously announced position as CEO of the EMEA region to the role of COO, and is scheduled to start on 19 September 2022.

She is set to join the company from her most recent position as group CEO at the Bank of Ireland, following senior management roles as HSBC.

Rongetti will reportedly replace Ulrich Körner in the ad interim Asset Management CEO position with immediate effect, following Körner’s move to group CEO. Rongetti will also remain as head of asset management Americas and global head of investments and partnerships.

De Ferrari previously worked as ad interim CEO of the EMEA region, and is set to take over the position permanently with immediate effect.

“I am delighted to welcome Dixit, Francesca, Michael and Michael to their new roles. Dixit and Francesca are joining Credit Suisse with impressive track records, adding a wealth of experience at this important juncture,” said Credit Suisse chairman Axel P. Lehmann.

“All four are expected to drive our strategic and operational transformation into the future, with the clear objective to position Credit Suisse for a successful future and realize its full potential.”

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