September 5, 2016 / 5:52 AM / 3 years ago

SIX's Zeller to chair Credit Suisse Swiss business, Thiam joins board

The logo of Swiss bank Credit Suisse is seen at a branch office in Zurich, Switzerland July 28, 2016. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - Credit Suisse (CSGN.S) on Monday appointed Alexandre Zeller, chairman of the Swiss bourse SIX, as chairman of its Swiss universal bank, a portion of which it plans to float in an initial public offering next year.

Zurich-based Credit Suisse also said Alpha Associates AG head Peter Derendinger would join the board of Credit Suisse(Switzerland) Ltd., which is expected to begin independent business operations in the fourth quarter of this year.

Group Chief Executive Tidjane Thiam and group Chairman Urs Rohner will also sit on the Credit Suisse (Switzerland) Ltd. board. The changes are effective from Oct. 1.

Credit Suisse hopes the IPO of 20-30 percent of the Swiss business will raise up to 4 billion Swiss francs ($4.09 billion).

($1 = 0.9782 Swiss francs)

Reporting by Joshua Franklin; Editing by Michael Shields

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