Credit Suisse group announces Thomas Gottstein as new Group CEO alongside Urs Rohner confirmed as Chairman of the Board

– SWITZERLAND, Zürich – Credit Suisse Group AG (SWX: CSGN) today announced that its  Board of Directors, at its meeting held on February 6, 2020, accepted the resignation of Tidjane Thiam as Group CEO, effective February 14, 2020, following the presentation of the fourth quarter and full-year results 2019.

The Board appointed Thomas Gottstein as Group CEO.

“Based on his deep and comprehensive experience in our business and in view of his impressive performance as head of our Swiss bank and his respect amongst our clients and employees, Thomas Gottstein is excellently positioned to lead Credit Suisse into the future,” said Urs Rohner, Chairman of the Board.

We are happy to announce him as a strong internal successor to our current leadership. I am grateful to him for taking on this responsibility and look forward to working with him in his new role.” he added.

André Helfenstein will succeed Thomas Gottstein as the CEO of Credit Suisse (Switzerland) Ltd., effective February 14, 2020, and become a member of the Executive Board of Credit Suisse Group AG. André Helfenstein is currently responsible for the institutional clients business in Switzerland and is a member of the Executive Board of Credit Suisse (Switzerland) Ltd. and the Swiss Universal Bank Management Committee

Severin Schwan, Lead Independent Director, said: “Urs Rohner has led the Board of Directors commendably during this turbulent time. After careful deliberations, the Board has been unanimous in its actions, as well as in reaffirming its full support for the Chairman to complete his term until April 2021.”

About Thomas Gottstein

Thomas Gottstein, the newly appointed Group CEO, has more than 30 years of experience in the banking industry, including more than 20 years with Credit Suisse. His track record is based on management roles in Investment Banking (for which he spent 13 years in London) as well as in Private Banking. In his role as CEO of Credit Suisse (Switzerland) Ltd. and a member of the Executive Board, he has been responsible for our home market since 2015. During his tenure, the Swiss business increased its contribution to the Group income before taxes from CHF 1.6 billion to CHF 2.1 billion.

Thomas Gottstein said: “I am grateful to the Board of Directors for the trust they have placed in me. I am looking forward to devoting my full energy to this treasured bank, its clients and shareholders. I am most proud of our 50’000 employees, who do tremendous work every day. Additionally, I want to say thank you to Tidjane Thiam for his support and partnership.”

About Crédit Suisse

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in the Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.

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