Business, Ivory Coast, Top News

Credit Suisse: Tidjane Thiam, the new boss!

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The current managing director of the British insurer, Prudential, Tidjane Thiam is appointed at the head of the Credit Suisse by the Board of directors, indicated a communiqué published on 11th March by the Swiss bank.

French-Ivorian will take function late June 2015, specifies the communiqué.

The document underlines that this appointment occurs after a meticulous evaluation process where internal and external candidates for the bank competed.

Tidjane Thiam replaces thus the American, Brady Dougan, managing director of the Credit Suisse since 2007.

52-year-old, Tidjane Thiam has double nationality, French and Ivorian. He has managed the British insurer, Prudential PLC since 2009, year when he became then the first Black managing director for a FTSE 100 company.

The FTSE 100 is a stock index of hundred best capitalized British companies quoted in London Stock Exchange. The four initials mean Financial Times Stock Exchange.

We note that Prudential has already announced that Tidjane Thiam was going with the head up leaving behind him a positive balance sheet.

On Tuesday, up sharply annual results were published. A 3 billion euro net profit in 2014 or a 65 % jump for a turnover increasing by 15 %.

Born in July 1962 in Ivory Coast in a family swimming in politics (his father, a diplomat imprisoned several times for his opinions, married with a niece of the former president, Félix Houphouët-Boigny), he is the first Ivorian to have entered the polytechnical school, the crowning of brilliant studies in France where he came out first of the class in Mining and got his MBA in the INSEAD.

He joined the McKinsey cabinet at the end of the 80s. He then worked for the Ivorian government under Henri Konan Bédié, within which he was minister of Planning and Development. From 2002 to 2008, he performed leading functions in the Aviva insurances group.

 

Original text by: Blaise AKAME

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