It's now been a full day since Credit Suisse announced it had tapped American Brady Dougan to be its next chief executive. Everyone's been scrambling to figure out just who this Dougan fellow is and what it means. Fortunately, DealBreaker spent our morning scouring the business media for news, insights and colorful stories so you don't have to. Bloomberg, the New York Times and the Wall Street Journal's "Heard on the Street" seem to have all the best stuff. And since it's Friday, and we love to do Media Roundups on Fridays, we bring you the Brady Dougan Media Roundup.
Beverage Preference: Diet Dr. Pepper, according to the New York Times. This clashes with a 2005 Business Week story claiming Dougan was a Diet Pepsi enthusiast.
To add to the confusion, the NYT notes "When the executive board of Credit Suisse went to dinner at the Savoy in Zurich Wednesday night to celebrate his appointment, Mr. Dougan dined on agnoletti and Diet Coke."
The unanswered questions: Has Dougan always preferred Diet Dr. Pepper? Has he switched? Or did someone get this detail wrong? Is Diet Dr. Pepper unavailable at the Savoy in Zurich?
DealBreaker was too ashamed to contact Credit Suisse with these pressing questions.
Nationality: American. First American ever to run Credit Suisse.
Exercise Preference: Marathons, according to the NYT, the Wall Street Journal and just about everyone else. The NYT has the killer detail—"his best time was 2 hours and 21 minutes (a pace of about 5 minutes and 40 seconds a mile)." Sometimes works out twice a day (NYT).
Personality type: He's a "shy workaholic" (Times) who sometimes works "18 hour days" (WSJ).
Work ethic: "Legendary" (NYT). Known to arrive at work at 5 am.
Age: Forty-seven, which as almost everyone notes, makes him the youngest head ever of "a global banking giant" (NYT).
Fashion statement: It seems that everyone notes he doesn't wear cuff-links. But this is old news. Business Week noted it in 2005. Who wears cuff-links in 2007 anyway? The NYT goes further, describing Dougan as " disheveled."
Marital status: Divorced. Two kids. (NYT)
Social life: "Intensely private" the NYT notes, adding that Dougan "does not appear in the social pages nor does he seem to revel in the fine wine and bright lights of Manhattan’s financial elite." Indeed, a search of NYSocialDiary.com found not one entry for Dougan.
Financial background: He started out as a derivatives guy, and his elevation makes him the first derivatives guy to run a global banking institution. (Bloomberg)
Managerial Reputation: He's a famous cost-cutter. He cut back on town cars (NYT), color copying and staff parties (Bloomberg)
Risks: "A question mark is Mr. Dougan's ability to lead Credit Suisse's other core business, wealth management," the WSJ says.
Hidden Talent: From the Times of London: "he has twice dressed up at corporate functions as the blonde one in Abba. The female one, that is. Agnetha. Apparently the Swiss contingent weren’t terribly amused."
Stepping Lively at Credit Suisse [New York Times]
The American in Zurich [Wall Street Journal]
Dougan Leads Derivative Traders to First Top Bank Job [Bloomberg]
Posted by MG, Feb 16, 2007 12:36PM
Interesting. This description of Dougan meshes exactly with the description of someone I'd never want to have dinner with -- a super-intense, non-drinking, workaholic with nothing more fun to do than show up at work at 5am. I can see why the Swiss -- reknowned globally for their humorlessness -- would be comfortable with him as their CEO.