(Bloomberg) -- Credit Suisse Group named Prudential's Tidjane Thiam to replace Brady Dougan as chief executive officer as the bank grapples with declining profitability at the securities unit and weakened capital.
Shares rose as much as 9.1%, the most in a month, and were 7.4% higher at 11:08 a.m. in Zurich trading after Credit Suisse said Tuesday that Dougan will step down at the end of June. In a separate statement, Prudential said a successor to Thiam has been found and will be named once the regulatory approval process has been completed.
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