Credit Suisse CEO Thomas Gottstein, 58, is going through a turbulent period — and it’s been since he took office in February 2020. Since then, the major Swiss bank has been bombarded with scandals on a weekly and monthly basis. Recently, Gotstein also had to anticipate another loss for Spring 2022.
Together with the new head of management, Axel Lehmann (63), Gotstein faces the huge task of getting computer science back on the path to success. They now want to replace several senior managers at the same time. Chief Adviser Romeo Cerruti, Chief Financial Officer David Mathers and Hellman Situhang, CEO, Asia Pacific, will be replaced, as will “New Zealand Sunday” According to insiders reported. Marcus Diethelm (65) is set to be traded as Cerutti’s successor. Until November 2021, he was still responsible for the legal department at UBS.
Hard line in court cases
Cerruti’s legal department has faced numerous lawsuits in recent years. A few months ago, a Bermuda court ordered the bank to pay 500 million Swiss francs to former Georgian Prime Minister Bidzina Ivanishvili (66).
While other banks have tried to reach settlements in legal proceedings in recent years, CS has taken a collision course with Cerruti.
Fresh faces, a scandal-free future?
Two exit candidates are Cerruti and Mathers, both computer science veterans. Cerutti has been with Mathers since 2006 at the bank since 1998. They are also part of the lesser known recent years.
Hellmann Situhang likely gambled his internals on the billion-dollar disaster surrounding the Grencelle fund. Gottstein and Lehmann seem to want to put the scandal years behind their backs with new hires. At the AGM next Friday, the management level will again not be able to score points due to the quarterly loss. (smt)
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