Credit Suisse Group AG today announced the appointment of Ulrich Körner as Group Chief Executive Officer. His appointment is effective August 1, 2022.

In this top role, Mr Körner will replace Thomas Gottstein, who is resigning.

Thomas Gottstein, outgoing CEO of Credit Suisse, said:

“It has been an absolute privilege and honor to serve Credit Suisse over these past 23 years. Credit Suisse has formidable client franchises in all four divisions globally and an immense talent pool across more than 50,000 colleagues worldwide. Despite the challenges of the past two years, I am immensely proud of our achievements since joining the Executive Board seven years ago and more recently in strengthening the bank, recruiting a top-caliber Executive Board, reducing risk and fundamentally improving our risk culture. In recent weeks, for personal and health-related considerations, and after discussions with Axel and my family, I concluded that now would be the right time to step aside and clear the way for new leadership to fully embrace the important initiatives announced this morning, which I wholeheartedly support.”

Ulrich Körner, new CEO of Credit Suisse, said:

“I thank the Board of Directors for the trust they have placed in me as we embark on this fundamental transformation. I am looking forward to working with all colleagues across the bank and the Executive Board and devoting my full energy to execute on our transformation. This is a challenging undertaking but at the same time represents a great opportunity to position the bank for a successful future and realize its full potential. I would also like to thank Thomas wholeheartedly for his support and partnership.”

Ulrich Körner joined Credit Suisse on April 1, 2021, as CEO Asset Management. He joined from UBS where he served as member of the group executive board for eleven years, of which six years leading the Asset Management division. Prior to this role he served as Chief Operating Officer.

From 2011 he additionally headed the region Europe, Middle East and Africa for UBS. Before joining UBS, he was an executive at Credit Suisse and held various roles, including Chief Financial Officer and Chief Operating Officer of Credit Suisse Financial Services and CEO Switzerland.

Ulrich Körner holds a PhD in Business Administration from the University of St. Gallen (HSG).