Credit Suisse has appointed Dixit Joshi as chief financial officer, replacing David Mathers, who decided to step down after more than 11 years in his role.
Based in Zurich, Joshi brings three decades of experience in financial services to the position. He will report directly to group CEO Ulrich Körner.
In two months, Joshi will depart from his current position as group treasurer at Deutsche Bank, which he has held for the past five years. As group treasurer, Joshi played a key part in the bank’s restructuring while overhauling the firm’s balance sheet.
During his 11 years with the bank, Joshi served as head of the fixed-income institutional client group, listed derivatives and markets clearing, as well as head of global prime finance and as head of APAC equities in Hong Kong.
Prior to joining Deutsche Bank in 2011, Joshi held senior roles at Barclays Capital. Between 1995 and 2003, he worked for Credit Suisse in New York and London, having started his career in 1992 at Standard Bank of South Africa.
As part of a reshuffle at Credit Suisse, Francesca McDonagh will also join the firm as group chief operating officer, joining the executive board alongside Joshi.
Michael Rongetti is named as interim CEO of the asset management division, and Francesco De Ferrari, CEO of the wealth management division, is appointed CEO of EMEA after serving in this role on an interim basis since January 2022.
Commenting on the announcement, Axel Lehmann, chairman of the board of directors, says: "Dixit and Francesca are joining Credit Suisse with impressive track records, adding a wealth of experience at this important juncture.
“All four are expected to drive our strategic and operational transformation into the future, with the clear objective to position Credit Suisse for a successful future and realise its full potential."
Körner adds: "They all join with extensive professional experience and a profound knowledge of the financial services industry, as we accelerate our efforts to make Credit Suisse a stronger, simpler and more efficient group with more sustainable returns.
“Dixit has an impressive turnaround track-record, with a broad experience across a range of investment-banking businesses, which will be invaluable on our journey in transforming the investment bank into a highly competitive banking and more sustainable markets business that complements wealth management and the Swiss Bank.”
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