September 6, 2018 / 4:15 PM / in 2 months

Credit Suisse CEO Thiam rules out political career - Le Temps

ZURICH (Reuters) - Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam has ruled himself out as a candidate for political office in his native Ivory Coast and intends to stay at the helm of Switzerland’s second-biggest bank for some time, he told a Swiss newspaper.

FILE PHOTO - Tidjane Thiam, CEO, Credit Suisse Group AG, speaks at the Milken Institute 21st Global Conference in Beverly Hills, California, U.S., May 1, 2018. REUTERS/Mike Blake

Asked about calls in Ivory Coast for him to run for president, he told Le Temps he was “touched and honoured” by the support he has received, but added:

“I have said many times and for many years my determination not to be politically active.”

The paper said he cited his “long-term commitment” as head of Credit Suisse, which is in the final year of a three-year revamp he initiated to focus more on wealth management and less on investment banking.

Ivory Coast presidential elections are due in 2020.

Credit Suisse’s website posted a statement from him saying:

“I have made a long-term commitment to Credit Suisse and its clients, employees and investors, that I will lead this bank. Having spent three years at the helm of Credit Suisse, my task is not yet completed and I have every intention of continuing with it.

“The strategy that we have designed for Credit Suisse and are executing with discipline is delivering good results. I therefore intend to remain in post as CEO of Credit Suisse and to oversee the development of our activities following this period of deep restructuring.”

Reporting by Michael Shields; Editing by Kirsten Donovan;Editing by Kirsten Donovan

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