Credit Suisse Now Brady's Bunch

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Brady Dougan takes over Credit Suisse today, becoming the Swiss bank's fourth CEO in the last 10 years, and the first one to succeed peacefully and not from someone getting ousted. Dougan, former head of the investment banking division, is the first American to hold the position. When former CEO Oswald Gruebel handed Dougan the keys today, his instructions were simple - "Don't touch anything!" It will be Dougan's mission to maintain the current status quo at Credit Suisse, which is to kick UBS's arse and continue to grow earnings, which have doubled in the last three years.
Dougan's (much publicised) propensity to work 16 hour days (in other words he's still an I-banking analyst at heart), run marathons and save kittens has translated into a rapid career ascent marked by displacing those who leave the company (Mack) or come under intense regulatory scrutiny (Wheat/Quattrone).
Despite the changing of the guard love-fest, all is not necessarily rosy with Credit Suisse. The bank has an underperforming asset management division that may be subject to a creit lowering (in the London unit) due to the departure of several key executives. There is also insider-trading trouble, as NY banker Hafiz Naseem was arrested yesterday on the charge of tipping off investors.
American Dougan Emulates Gruebel at Credit Suisse - [Bloomberg]

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