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New Credit Suisse CEO flip-flops on predecessor’s plan — and brings the bank in line with rivals

Thomas Gottstein's shake-up reverses the changes made by ex-CEO Tidjane Thiam, who had a former McKinsey consultant’s love of meddling with the matrix, says FN columnist David Wighton

Tidjane Thiam, former chief executive officer of Credit Suisse Group.
Tidjane Thiam, former chief executive officer of Credit Suisse Group. Photo: Stefan Wermuth/Getty Images

New chief executives face a big temptation to move the deckchairs around. After all, rejigging a company’s structure is an easy way to make an early mark. And for some reason the syndrome seems particularly acute in investment banking where bosses are forever rearranging the furniture.

So it is no great surprise that the new broom at Credit Suisse, Thomas Gottstein, has unveiled a fresh organigram. Some of this reverses the changes made by his predecessor, Tidjane Thiam, who had a former McKinsey consultant’s love of meddling with the matrix.

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