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Changes in the Executive Board of Credit Suisse Group AG. Philipp Wehle to succeed Iqbal Khan as CEO International Wealth Management

Credit Suisse Group AG announced today that Iqbal Khan, CEO International Wealth Management and member of the Executive Board of Credit Suisse Group AG, would be leaving Credit Suisse to continue his career outside the company. Philipp Wehle, currently Chief Financial Officer of International Wealth Management, will succeed him on July 1, 2019. The Board of Directors appointed Philipp Wehle a member of the Executive Board of Credit Suisse Group AG.

Tidjane Thiam, CEO of Credit Suisse said: “In 2015 we created International Wealth Management as a separate division for Credit Suisse and I identified Iqbal Khan as a great candidate for the job as CEO. Under his leadership, IWM has delivered strong financial results, while enhancing our client franchise and achieving industry leading growth over the period. I thank Iqbal for the strong results he delivered during his time leading IWM and wish him well.”

Iqbal Khan said: "After six successful years as CFO and later CEO of International Wealth Management at Credit Suisse I decided to pursue the next career move outside of Credit Suisse Group. I am grateful to Credit Suisse for the professional development opportunities I was given. I would like to thank Tidjane for his steadfast leadership over the past four years. I also thank my team for their unstinting support during my time at Credit Suisse, all the more, I am happy to hand over the Division entrusted to me with outstanding results and positive prospects."

Tidjane Thiam continued: “I am delighted to welcome Philipp Wehle to the Executive Board. He is an excellent addition to our senior leadership team, reinforcing the team’s performance culture with strong personal values.  Philipp is an outstanding leader and manager, with an impeccable track record of generating strong revenue growth while driving cost and capital discipline. During his time as CFO of IWM, Philipp has been instrumental in deepening collaboration between divisions and with corporate functions, playing a key role in the development of International Trading Solutions. I am confident that Philipp will lead the International Wealth Management division to continued success and further generate profitable growth in our business.”

Iqbal Khan joined Credit Suisse in 2013 as CFO Private Banking & Wealth Management and was appointed CEO International Wealth Management and member of the Executive Board in 2015. Prior to this he was with Ernst & Young, Switzerland, in various positions, since 2011 as Managing Partner Assurance and Advisory Services - Financial Services, and member of the Swiss Management Committee.

Philipp Wehle joined Credit Suisse in 2005. Philipp has been Chief Financial Officer of International Wealth Management since the inception of the division in 2015. Prior to that, Philipp held senior management roles in finance and strategy in our Swiss business and International Private Banking. From 2011 until 2012, he was based in Singapore heading the Private Banking Asia Pacific Finance team. Philipp is a Board member of CS InvestLab AG and Credit Suisse Asset Management & Investor Services (Schweiz) Holding AG. He also serves as Co-Head of Finance of International Trading Solutions.

Philipp graduated from the University of Bonn, Germany, with a master's degree in economics and subsequently worked as a consultant and project manager with a focus on financial services.