Credit Suisse expected to announce Koerner as CEO, replacing Gottstein – sources

NEW YORK – Credit Suisse Group AG is expected to announce Ulrich Koerner as its new chief executive officer, replacing Thomas Gottstein, two sources familiar with the situation said on Tuesday.

Pressure has been mounting on Gottstein for months over major scandals and losses racked up during his two-year tenure that have hammered shares and angered investors.

(Reporting by Oliver Hirt in Zurich; writing by Megan Davies; editing by Chris Reese)