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Credit Suisse Senior Management Shake-up Continues

Credit Suisse Senior Management Shake-up Continues

(29 April 2022 – Europe) Global CFO for Credit Suisse Group, David Mathers, has announced he is departing the group and a new APAC CEO is set to step into the role.

Serving as CFO at the bank for over a decade, and CEO of Credit Suisse International since 2016, Mathers will leave the bank once suitable replacements have been sourced for both of his current roles. External and internal recruitment processes have been launched with his direct involvement.

Mathers joined the bank in 1998 from HSBC where he served as global head of Equity Research. Before assuming the role of CFO at Credit Suisse twelve years ago upon the retirement of Renato Fassbind, he had held senior leadership positions at the bank including COO and head of finance of the Investment Banking Division along with co-head of European Equities, and head of European Equity Research.

Credit Suisse APAC CEO Helman Sitohang is also stepping down with Edwin Low, who has been with the bank since 1996, replacing Helman on the Executive Board and reporting directly to Group CEO Thomas Gottstein. The announcement comes amid ongoing rounds of senior management shake-ups, abrupt departures and internal and external probes following a series of profit warnings and increased litigation expenses. The bank has been criticised by investors demanding greater disclosure on the collapse of a group of supply chain finance funds the bank ran with Greensill.

"I am looking forward to having Francesca, Markus and Edwin on the Executive Board given their deep professional insights and profound knowledge of the financial-services industry. At the same time, I would like to thank David and Helman for their service to the bank in their important roles over such a significant period of time. I wish Romeo well for his future endeavors. I have accepted David’s request with regret and look forward to continuing working with David over the coming months until a successor is found. And finally, I am delighted that Helman will continue to support me and Edwin in his new role, focusing on our most important APAC clients and advise me on our strategy implementation in the APAC region” commented Credit Suisse Group CEO Thomas Gottstein.

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