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Who is the new CEO at Credit Suisse?

Barely an hour after the appointment of Tidjane Thiam at Credit Suisse, industry experts were already extolling the benefits he could bring to the Swiss financial group.

Tidjane Thiam – pronounced Tee-jarn Ti-arm – was born in Ivory Coast, Africa but was raised and educated in France. He holds a master's degree in business administration from France's prestigious INSEAD business school.

His first exposure to the world of insurance came at McKinsey & Company in Paris and New York. The company is an adviser to many of the world's most influential businesses and institutions and Thiam cut his teeth working with both insurance companies and banks.

Thiam had two spells at McKinsey, which bookmarked his time working in his native Ivory Coast. Working for the country's government, he climbed to the post of minister of planning and development before returning to Paris. Staying with insurance, Thiam then took a leading role at the British multinational insurance company Aviva from 2002 until 2008.

'Transfomer'

Bloomberg | Bloomberg | Getty Images

Onlookers cite this background in insurance and wealth management as the main driver behind his appointment at Credit Suisse. Shares in the Swiss bank surged 7.5 percent at the session open on Tuesday.

Thiam's appointment is a political move, according to Christopher Wheeler, an analyst at Atlantic Equities in London. With many investment banks desperate for an image change after years of hefty fines, Wheeler said the Swiss lender has made the right choice in Thiam, as it looks to appease anxious Swiss authorities.

Chris Skinner, CEO of advisory firm Balatro, said Thiam was a "transformer" with a proven track record in building and guiding companies in new directions.

Thiam joined Pru as its chief financial officer in 2008, before being appointed group chief executive a year afterwards. The London-based international financial services group has operations in the United States, Asia, Europe and Latin America.

Many see Thiam as having driven growth in these markets and expect his experience and connections to transfer well to Credit Suisse.

'Respect'

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