Credit Suisse IT chief to step down at end-April

Fri Apr 27, 2012 1:54am EDT

Related Topics

* CFO to take over responsibility for IT unit

* Credit Suisse cost cuts ahead of targets

ZURICH, April 27 (Reuters) - Credit Suisse said chief information officer Karl Landert was to step down at the end of April as the Swiss bank reorganises its payment and transaction units as part of a wider effort to slash costs.

Chief financial officer David Mathers will take responsibility for the IT division, the bank said on Friday.

The move is part of an ongoing cost-cutting drive, combining the units for payments and fixed income transactions previously housed in the investment banking and private banking divisions.

"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," chief executive Brady Dougan said.

Credit Suisse, in the process of cutting 3,500 jobs, said on Wednesday it had eked out a small first-quarter profit, beating analyst estimates for a large loss, and that its cost-cutting efforts were ahead of targets. (Reporting by Martin de Sa'Pinto; Editing by Dan Lalor)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.