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Press Release

Ilan Goldfajn appointed Chairman of the Advisory Board of Credit Suisse Brazil

Over the course of 2019, Credit Suisse has made a number of senior and strategic hires to strengthen our leading franchises across attractive G-20 economies, deepen our decentralized, regional approach to client coverage and deliver continued, profitable growth. In the last twelve months, we have bolstered key management positions in Australia, China and Japan.

In that context, we are pleased to announce that Ilan Goldfajn has been appointed as Chairman of the Advisory Board of Credit Suisse Brazil. Ilan will join the bank on Sept. 16 and, in this new role, will help Jim Amine, Brian Chin and Philipp Wehle develop our integrated franchise in the region across Wealth Management and Investment Banking.

The Advisory Board of Credit Suisse Brazil will provide counsel for the strategic decisions of local management, and empower local management projects in order to expand our business and maintain sustained growth. Board members include: José Olympio Pereira, CEO of Credit Suisse Brazil, Marco Abrahão, CEO of International Wealth Management Brazil, and Sávio Barros, Vice-Chairman of International Wealth Management Brazil.

As Chairman, Ilan will have a strategic role in promoting ever stronger collaboration across all the bank's divisions in Brazil. He will also take an active role in discussions on medium and long-term scenarios, analyze investment opportunities, source and develop products and services, and help to define investment strategies. Ilan will work closely with our corporate clients and high and ultra-high net worth individuals, and strengthen our relationships with institutional investors, both onshore and offshore.

Tidjane Thiam, CEO of Credit Suisse Group, said: "We are delighted to welcome someone of Ilan's stature and caliber to Credit Suisse to develop our activities in Brazil and support Brian, Jim and Philipp. We will benefit immensely from his knowledge across the Brazilian and international economic and political spectrum. Given his previous role at the helm of the Central Bank of Brazil and his distinguished academic and professional track record, Ilan is a highly respected figure in the international finance community. Brazil is a key market for Credit Suisse, and we look forward to his leadership as we continue to deepen our leading client footprint in the region."

In light of the transformations that the financial industry is going through and the impact of sustained low interest rates, one of the fundamental roles of the Chairman will be to formulate strategies for our business with the objective of achieving recurring and sustained value generation for Credit Suisse and its clients.

Ilan was chairman of the Central Bank of Brazil from June 2016 until March 2019. In 2018, he was elected Central Banker of the Year by The Banker magazine. Ilan was chief economist and partner of Itaú Unibanco, founding partner of Ciano Investimentos, and partner at Gávea Investimentos.

In academia, he was a professor at Pontifical Catholic University (PUC) and Brandeis University in the US. Throughout his career, he has published numerous articles and books and has worked as a consultant for international organizations such as the World Bank, the International Monetary Fund, the United Nations, other international and Brazilian banks, and the Brazilian government. Ilan holds a doctorate in economics from the Massachusetts Institute of Technology, a Masters degree in economics from Pontifical Catholic University of Rio de Janeiro, and an undergraduate degree in economics from the Federal University of Rio de Janeiro.

With his deep market knowledge and extensive experience, Ilan will further enhance Credit Suisse Brazil's culture of performance and help to fully leverage our leading franchises in wealth management and investment banking in the region. Ilan's new role further reinforces our ongoing commitment to Brazil, a key market for the bank.