Credit Suisse Names Dixit Joshi Finance Chief, Francesca McDonagh As COO

Credit Suisse Group AG CS has appointed Dixit Joshi as Chief Financial Officer and Francesca McDonagh as Group Chief Operating Officer. They will both join the Executive Board.
Joshi rejoins Credit Suisse, taking up the role of CFO on October 1, 2022. He succeeds David Mathers, who decided to step down after more than 11 years in his position.
Joshi served as Group Treasurer for the past five years at Deutsche Bank DB. Previously, he served as Deutsche Bank’s Head of the Fixed-Income Institutional Client Group, Listed Derivatives and Markets Clearing and Head of Global Prime Finance, and Head of APAC Equities in Hong Kong.
Francesca McDonagh, previously announced as CEO of the EMEA region, is appointed Group Chief Operating Officer, starting on September 19, 2022. She will also lead the enterprise architecture development, focusing on organizational design and bank-wide efficiencies.
Francesca McDonagh most recently served as Group CEO at the Bank of Ireland.
Francesco De Ferrari, CEO of the Wealth Management division, who has acted as ad interim CEO of the EMEA region, is appointed to take over the role permanently with immediate effect.
Additionally, Michael J. Rongetti will take over as ad interim CEO of the Asset Management division with immediate effect, replacing Ulrich Körner, who was appointed Group CEO.
Also Read: Credit Suisse's Largest Owner Asks For Sustainable Options For Troubled Investment Banking Unit
Michael Bonacker is appointed Group Head of Transformation, leading the operating model and cost transformation work. He will start his new role on September 1, 2022.
Price Action: CS shares are trading lower by 1.14% at $5.20 and DB lower by 1.64% at $8.39 during the premarket session on Monday.
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