Credit Suisse Ltd appoints Daniel Hunziker as Head of Corporate Banking

Also read: Insurer Swiss Re nominates new chairman after Sergio Ermotti resigns to lead UBS

The appointment of Daniel Hunziker comes as Andreas Gerber, the current Head of Corporate Banking and a member of the Executive Board at Credit Suisse (Switzerland) Ltd., would be departing from the company. He will be taking a break for the time being.

Also read: RBI allows UBS-acquired Credit Suisse to retain Indian banking license: Report

Previously on 12 July, Insurance company Swiss Re announced its plan to appoint Jacques de Vaucleroy as the permanent chairman of the board. Currently serving as the deputy chairman, de Vaucleroy has been acting as the chairman since the previous chairman, Sergio Ermotti, resigned to join UBS in a leadership role.

The decision to appoint de Vaucleroy came in the aftermath of the Swiss authorities’ intervention to rescue Credit Suisse through a merger with UBS, which led to changes in management positions.

Jacques de Vaucleroy, a Belgian executive with previous experience at AXA and ING, was considered the ideal candidate for the chairman position after an extensive search that also involved considering external candidates. Upon the board’s nomination, de Vaucleroy will present himself for election as the chairman at the company’s annual general meeting in April.

UBS, on the other hand, expressed little interest in Credit Suisse’s investment bank following the government-brokered takeover. UBS is committed to its strategy of a smaller capital-lite securities unit.

UBS made several appointments in its global markets team, with some of them being former Credit Suisse employees. This was part of the third round of management changes after the takeover of Credit Suisse. UBS had already appointed its key leadership team in May.

(With inputs from Reuters and Bloomberg)

Updated: 17 Jul 2023, 03:24 PM IST