Credit Suisse Switzerland CEO leaves
Switzerland's second largest bank announced Ulrich Körner, the bank's chief executive in Switzerland and member of the executive board, has stepped down. He will be replaced by Hans-Ulrich Meister, who joins from rival UBS.
Brady Dougan, chief executive of Credit Suisse, said: "During his ten years with Credit Suisse, Ulrich Körner has made a very significant contribution to the success of our bank. I very much regret his decision to leave and wish him well for the future."
Körner joined Credit Suisse in 1998, was made a member of the executive board in 2003 and chief executive in Switzerland in 2006.
It is not yet known where he is going, or why he left. Credit Suisse did not return calls.
Meister will take up his responsibilities from September 1, reporting to Brady Dougan. He will also report to Walter Berchtold, chief executive of private banking, and will be a member of the private banking management committee.
Previously Meister was head of business banking for UBS. His responsibilities included retail and corporate banking as well as coverage of multinational companies and institutional clients in Switzerland, and he was a member of the group managing board of UBS. He joined UBS in 1983.
This is the second time in less than a week that Credit Suisse has hired a senior banker from UBS. Last week the bank announced the appointment of Paul Arni from UBS as its new head of private banking for Switzerland.
Arni starts the new role in February next year. He replaces Christoph Mauchle, who has been transferred to a new role within Credit Suisse.
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