Credit Suisse Hires Replacement CFO, Reshuffles Board: A successor to Credit Suisse's chief financial officer David Mathers has been announced alongside a reshuffling of its top managers. CreditSuisse DeutscheBank
Credit Suisse appoints Dixit Joshi as chief financial officer, according to a statement, effective October 1. Joshi replaces David Mathers who will step down, as per his previous announcement in April, following more than 11 years in the role.
Joshi rejoins Credit Suisse from Deutsche Bank where he was group treasurer for the past five years, focused on overhauling the German lender’s balance sheet. He has three decades of experience and previously worked at Barclays and also at Credit Suisse between 1995 and 2003 in New York and London. In his Zurich-based role, he joins the executive board and reports to group chief executive Ulrich Koerner. Previously announced EMEA CEO Francesca McDonagh has been appointed group chief operating officer, effective September 19. McDonagh was most recently the group CEO of commercial lender Bank of Ireland and she previously held various senior management roles at HSBC.
Head of asset management Americas and global head of investments and partnerships Michael J. Rongetti will retain his role while also taking over as ad interim CEO of the asset management division, replacing Koerner. Rongetti is a longtime Credit Suisse employee, having joined in 1998, and was previously CFO of the asset management division as well as CFO for private banking and wealth management products. He will continue to be based in New York.
In addition, the bank appoints Michael Bonacker as Zurich-based group head of transformation, effective September 1, reporting to McDonagh once she joins. Bonacker has more than 30 years of experience and is currently the vice chairman of investment banking & capital markets EMEA as well as a member of the client advisory group. He joined Credit Suisse in February this year and previously also worked at Oliver Wyman, BHF-Bank, Commerzbank, Lehman Brothers/Nomura, Deutsche Bank and McKinsey.
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