Credit Suisse named Markus Ruetimann the new asset management COO

By Joy Dumasia

Credit Suisse named Markus Ruetimann as the new global chief operating officer of Credit Suisse Asset Management. The Zurich bank turns to the ex-UBS and Schroders manager to help it recover from repeated crises.

Ruetimann will report to Ulrich Koerner, another former UBS executive named in March, to lead asset management. The Swiss bank separated the business into its division following the implosion of around $10 billion of funds related to British supply chain financier Greensill.

Koerner told Credit Suisse employees in a memo that “In his role as Global COO of CSAM, Markus will have global oversight over technology and digital solutions, change and project management, operations as well as data and business services. He will also lead the regional COO teams across EMEA/Switzerland, the Americas and APAC.”

The former CSAM Chief Operating Officer Mike D’Angelo will support Ruetimann in helping develop a new operating model, said Koerner, who thanked D’Angelo for his work over the last several years.
The changes within CSAM follow a separate announcement on Monday that Credit Suisse’s chief compliance officer of its domestic unit is quitting.

Recently, IBS Intelligence reported that Credit Suisse Group announced the appointment of Joanne Hannaford as Chief Technology & Operations Officer and a member of the Executive Board of Credit Suisse Group, effective January 1, 2022. Joanne will be based in Zürich and report directly to the Group CEO, Thomas Gottstein. James Walker, the current Chief Operating Officer, will continue in his role until the end of the year.