The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Tidjane Thiam leaves Credit Suisse poised for growth

New CEO Thomas Gottstein will change neither the strategy nor the structure at Credit Suisse, but rather focus on growth in every division.


Outgoing CEO Tidjane Thiam at the annual news conference in Zurich on Thursday, to present Credit Suisse's results for 2019

Credit Suisse on Thursday reported operational pre-tax income of SFr4.3 billion for 2019 after stripping out exceptional reported items. That is 18% up on the SFr3.6 billion in 2018.

In the first full year after completion of the three-year restructuring implemented by departing chief executive Tidjane Thiam, Credit Suisse has returned to growth.

It is down to his strategic vision and leadership that a bank that lost SFr2.7 billion in 2016, then lost SFr983 million in 2017, provided SFr2.02 bilion of profit attributable to shareholders in 2018 and gave those shareholders SFr3.4 billion in 2019.

Return on tangible equity (RoTE) has gone from negative -7% in 2016 up to 9% last year. The remaining management team is confident of hitting its 10% RoTE target for 2020, which Thiam, presenting his 19th and final set of quarterly results, says has got off to a flying start.

“It’s going to be a great first quarter,” Thiam says, putting just a little pressure on his successor.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree