World

Credit Suisse CEO Brady Dougan resigns, head of Prudential to take over

Credit Suisse says its chief executive Brady W. Dougan is to leave the bank after eight years.

The American will be replaced in June by Tidjane Thiam, the head of British insurer Prudential.

The Swiss bank's chairman, Urs Rohner, said in a statement Tuesday that Dougan had kept Credit Suisse "on track in recent years despite a complex environment and considerable headwinds in the global financial services industry."

Rohner says Thiam is "a strong and distinguished leader with an impressive track record."