Credit Suisse appoints Dixit Joshi as CFO

Credit Suisse Group on Monday appointed Dixit Joshi as chief financial officer and Francesca McDonagh as group chief operating officer.

Both Joshi and McDonagh will join the executive board and report directly to Group CEO Ulrich Körner, the second largest bank of Switzerland says in a statement.

Dixit Joshi rejoins Credit Suisse, taking up the role of CFO on October 1, 2022. He will replace David Mathers who decided to step down after more than 11 years in his role.

For the past five years, Dixit Joshi served as group treasurer at Deutsche Bank, where he played a key part in the bank's restructuring while overhauling the firm's balance sheet.

During his career spanning three decades, he held various senior investment banking roles across different geographies, helping oversee a series of businesses as well as complex transformation projects. Previously, Dixit Joshi served as Deutsche Bank's head of the Fixed-Income Institutional Client Group, Listed Derivatives and Markets Clearing as well as head of Global Prime Finance and as head of APAC Equities in Hong Kong.

Before joining Deutsche Bank in 2011, Dixit Joshi held senior roles at Barclays Capital. Between 1995 and 2003, he worked for Credit Suisse in New York and London, having started his career in 1992 at Standard Bank of South Africa. Dixit Joshi has a Bachelor of Science degree in Actuarial Science and Statistics from the University of Witwatersrand, South Africa. He will be based in Zurich.

"Dixit has an impressive turnaround track-record, with a broad experience across a range of investment-banking businesses, which will be invaluable on our journey in transforming the Investment Bank into a highly competitive banking and more sustainable markets business that complements wealth management and the Swiss Bank," says Ulrich Körner, Group CEO.

Additionally, Michael J. Rongetti will take over as ad interim chief executive officer of the asset management division with immediate effect, replacing Ulrich Körner who was appointed Group CEO. In addition, he will continue to serve as head of Asset Management Americas and Global Head of Investments and Partnerships. Previously, Michael J. Rongetti was CFO of the Asset Management Division (2012 to 2021) as well as CFO for Private Banking Wealth Management Products (2013 to 2015).