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

Joshi and McDonagh will join the board and report directly to group CEO Ulrich Körner, Switzerland’s second-largest bank said in a statement.

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

For the past five years, Dixit Joshi served as group treasurer at Deutsche Bank, where he played a key role in the bank’s restructuring while revamping the company’s balance sheet.

Over his three-decade career, he has held a variety of senior investment banking positions in different geographies, helping oversee a range of businesses as well as complex transformation projects. Previously, Dixit Joshi served as Group Head of Institutional Fixed Income Clients, Listed Derivatives and Markets Clearing at Deutsche Bank, as well as Head of Global Prime Finance and Head of APAC Equities in Hong Kong.

Prior to joining Deutsche Bank in 2011, Dixit Joshi held senior positions at Barclays Capital. Between 1995 and 2003, he worked for Credit Suisse in New York and London, having started his career in 1992 at the Standard Bank of South Africa. Dixit Joshi holds a Bachelor of Science 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 extensive experience across a range of investment banking businesses, which will be invaluable on our journey to transforming investment banking into a highly competitive banking and investment banking business. more sustainable markets that complements Swiss wealth management and banking,” says Ulrich Körner, CEO of the group.

Additionally, Michael J. Rongetti will take over as interim Managing Director of the Asset Management division with immediate effect, replacing Ulrich Körner who has been 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).

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