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Brady Dougan has been chief executive of Credit Suisse since May 2007. He admits his timing – taking the job just three months before the first waves of the sub-prime crisis hit the market – could have been better. Little more than three years into the job, he is already one of the longest-serving heads of a big, global bank.
His remarkable achievement in that time is that Credit Suisse has not only survived, it has thrived. Only a few years ago, competitors were happy to write Credit Suisse off. Its glory days were from another era, they said – a private bank to be held in esteem, but an investment bank that had lost its way and was playing in the minor leagues.
Their view of Credit Suisse has changed dramatically. It is widely acknowledged as the top private bank in the world. It has led the industry in transparency, on both its market positions and its compensation.
Credit Suisse’s investment bank is held up as a model for the future, one that other banks wish to emulate. The firm is low risk and capital efficient.