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Credit Suisse's CFO to take on IT function


Its CIO will step down on 30 April, the bank said

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Credit Suisse's chief financial officer is to take over responsibility for the IT function as its chief information officer steps down, the bank said on Friday

David Mathers, chief financial officer (CFO) of Credit Suisse, will take full responsibility for IT in addition to his finance role. Outgoing CIO Karl Landert will work closely with Mathers to ensure a smooth transition, the bank said.

In February Mathers defended the bank's decision to take charges of almost 1 billion Swiss francs to slash costs and risky assets to meet stiffer capital rules.

Landert joined the investment bank in 2001 and has served as CIO since 2008. He will step down from company’s executive board on 30 April.

“I wish to thank Karl very much for the major role he played in the deployment and implementation of Credit Suisse’s integrated banking model within the IT division,” chairman Urs Rohner said.

“The integration of our finance, operations and IT functions will support the evolution of the bank’s strategy, while reinforcing the importance of sustaining overall cost efficiency and organisational flexibility and of developing a single operating platform for the bank,” Brady Dougan, CEO of Credit Suisse, added.

CFO Mathers is responsible for corporate real estate, supply management, group insurance and expense management. Before his appointment as CFO in October 2010, Mathers was head of finance and then chief operating officer (COO) for the Credit Suisse’s investment bank.

Landert joined Credit Suisse 11 years ago as head of application development, and was appointed head of IT at the bank in 2004. He was then CIO of private banking before becoming overall CIO.

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Credit Suisse's CFO to take on IT function
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