Credit Suisse names Koerner as CEO, sets strategic review

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FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Bern

ZURICH – Credit Suisse named asset management expert Ulrich Koerner as its new chief executive on Wednesday, the latest sign of churn at the Swiss bank that announced a strategic review as it struggles to recover from a series of scandals.

Pressure had been mounting on current chief executive Thomas Gottstein for months over the scandals and losses racked up during his two-year tenure that have hammered shares and angered investors.

In recent months some investors had called for Gottstein to be replaced, but the bank had resisted.

(Reporting by Michael Shields; Editing by Clarence Fernandez)