British banker handed top job at scandal-hit Credit Suisse as it shakes up its management again

British banker given top job at scandal-hit Credit Suisse as management changes again

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New role: Francesca McDonagh

New role: Francesca McDonagh

A British banker is set to take on a senior role at Credit Suisse, as the troubled bank changes management once again.

Francesca McDonagh, the former head of the Bank of Ireland, was originally appointed as Credit Suisse’s head of Europe, the Middle East and Africa earlier this year.

It was to start in September. But after the departure of CEO Thomas Gottstein, who wasn’t getting the beleaguered bank up and running fast enough, the 47-year-old McDonagh got a quick promotion before his job had even started.

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She will take on the role of chief operating officer, helping boss Ulrich Korner cut costs at Credit Suisse.

Dixit Joshi, who worked at the lender from 1995 to 2003, will also return to replace CFO David Mathers.

Credit Suisse is trying to restore its reputation after a series of scandals including corporate espionage and the collapse of Greensill Capital, in whose products it had invested clients’ money.

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