Credit Suisse chief 'will be replaced as soon as possible'

4 December 2012

Brady Dougan will lose his position as chief executive of Credit Suisse sooner rather than later.

That is according to sources in the banking industry, who have told Reuters that Mr Dougan - who took on the role before the onset of the global slump in 2007 - is on borrowed time.

Mr Dougan recently implemented an overhaul of the financier's investment banking division and also shook up the company's management structure, but insiders believe these measures will not be enough to save the professional.

For instance, an ex-senior banker from Credit Suisse noted that the latest reorganization of the firm clearly shows that Mr Dougan "remains under immense pressure".

"He will be replaced as soon as a suitable successor is found," the individual added.

Mr Dougan has spoken of his determination to make sure Credit Suisse keeps its place at the forefront of the global investment banking industry, despite the fact other lenders are reducing their exposure to this area.

By Asim Shah

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development