Credit Suisse Publishes Annual FY20 Report; Appoints Ulrich Körner As CEO Asset Management

(RTTNews) - Credit Suisse (CS) on Thursday published its annual 2020 report, as well as its agenda for the 2021 Annual General Meeting of Shareholders on April 30.

Separately, Credit Suisse announced the appointment of Ulrich Körner as CEO Asset Management and a member of the Executive Board of Credit Suisse Group, effective April 1.

From that date, the Asset Management unit will be separated from the International Wealth Management division and managed as a new separate division.

Körner will report directly to the Group CEO, Thomas Gottstein.

Körner succeeds the current Global Head Asset Management, Eric Varvel, who will focus on his other roles as CEO Credit Suisse Holdings (USA) and Chairman of the Investment Bank following the transition.

In the upcoming AGM, the company, as announced earlier, plans to propose for a dividend to shareholders of 0.2926 franc per share for the financial year 2020 with 50% being paid out of the capital contribution reserves and 50% from retained earnings.

Further, the company will propose for the election of António Horta-Osório as a new member and Chairman of the Board of Directors for a term until the next AGM. Urs Rohner is not standing for re-election as served the Board for the maximum standard term limit of 12 years, of which 10 years as Chairman.

Additionally, the Board also proposes for the election of Clare Brady and Blythe Masters as new members of the Board of Directors for a term until the end of the next AGM.

In Switzerland, Credit Suisse shares were trading at 12.25 francs, up 1.83 percent.