Credit Suisse Group AG’s Board of Directors has announced the appointment of Ulrich Körner as CEO Asset Management. Körner’s new role will begin 1st April 2021, when he will also begin duties as a member of the Group’s Executive Board, reporting directly to Group CEO Thomas Gottstein. Körner has extensive Executive Board level experience in the financial services industry, spanning asset management, operations, and finance.
Eric Varvel, currently Global Head Asset Management of Credit Suisse Group, will work alongside Ulrich Körner over the next few months to help facilitate the transition. Following this, Varvel will focus on his other roles as Chairman of the Investment Bank and CEO Credit Suisse Holdings (USA).
Ulrich Körner most recently served as Senior Advisor to the CEO of UBS Group. He had previously provided services as an Executive at Credit Suisse, holding multiple roles including Chief Operating Officer and Chief Financial Officer of Financial Services and CEO Switzerland.
Ulrich Körner is an excellent addition to our leadership team, reinforcing its values and performance culture. Ueli is a strong leader and strategic thinker with proven ability in business development and profitable growth in asset management, as well as in business transformation. I am very much looking forward to working with Ueli on the Executive Board and I am confident that he can greatly contribute to the work to be done in the current situation.
Urs Rohner, Chairman of Credit Suisse, said:
I am very pleased to welcome Ulrich Körner back to Credit Suisse, where he had a successful career in various Executive Board level roles. With his excellent track record at Credit Suisse and UBS, where he developed and successfully executed the asset management growth strategy, Ueli is excellently positioned to lead our new Asset Management division going forward.
This announcement follows the recent news regarding the Credit Suisse Asset Management managed supply chain finance funds. From 1st April, the Asset Management business is set to separate from the International Wealth Management division (which will continue to be led by Philipp Wehle) and subsequently be managed as a separate division in its own right. This split will emphasise the strategic significance of the asset management business for both the bank and its clients.
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