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Tidjane Thiam New CEO of Credit Suisse

Credit Suisse appoints Tidjane Thiam as new CEO

Tidjane Thiam, group chief executive of U.K.-insurer Prudential, will become the new CEO of Swiss bank Credit Suisse, both companies confirmed Tuesday. Thiam's new role is set to start in June this year, and will see him take over from outgoing CEO Brady Dougan, who has been with the Swiss lender for 8 years. Shares of Credit Suisse surged 7.5 percent at the session open on Tuesday.

Paul Manduca, chairman of Prudential, called Thiam an "exceptional leader" who had steered the company through the financial crisis and focused on the high-growth markets of emerging Asia.

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