People Moves
Credit Suisse Appoints Finance Industry Luminary As Chairman Of Swiss Entity; Adds To Board
The Swiss subsidiary of Credit Suisse, which is in the process of being set up as an independent bank within Credit Suisse Group, has made two senior boardroom appointments.
Credit Suisse has appointed Alexandre Zeller and Dr Peter Derendinger as external members on the board of directors of its Swiss legal entity, the Zurich-listed lender said today.
Zeller will be appointed chairman of the board of directors of Credit Suisse (Switzerland) with effect from 1 October.
Credit Suisse (Switzerland) was set up in April 2015 as a wholly-owned subsidiary of its parent to make the group more resilient and meet tough regulatory requirements brought into force in the wake of the 2008 financial crisis. The subsidiary is expected to be operating as an independent bank inside the Credit Suisse Group in the fourth quarter of this year.
Zeller has been chairman of the board of directors of SIX Group, the Swiss financial services firm, since May 2013. After working at Nestlé in the mid-1980s, he held roles at Credit Suisse till 2002, including being on the executive board of Credit Suisse Private Banking. After working as CEO of Banque Cantonale Vaudoise in Lausanne from 2002 to 2008, he moved to HSBC Private Bank (Suisse) in Geneva, where he worked up until 2012 as CEO, country manager for Switzerland, and regional CEO, global private banking EMEA. Since 2012, Zeller has held mandates as a professional board member with various companies and foundations in Switzerland.
Dr Derendinger is the founding partner and CEO of Alpha Associates, an independent company headquartered in Zurich that manages and advises on investments in private equity, private debt and infrastructure. Prior to the founding of Alpha Associates in 2004, Dr Derendinger spent a year managing the operating business of Swiss Life Private Equity Partners, which was then acquired by Alpha Associates.
After an earlier career as an attorney, Dr Derendinger joined Credit Suisse Group in 1989, where he held various management positions until the end of 2001.
The board of directors of Credit Suisse (Switzerland) will be joined by additional Swiss members from outside the bank, it said in its statement today.
Tidjane Thiam, CEO of Credit Suisse Group, will also join the board of directors of Credit Suisse (Switzerland).
