Winterthur chief leaves Credit Suisse after one month

Leonhard Fischer, Credit Suisse’s chief executive of Europe, the Middle East and Africa (EMEA), has left the bank after formally joining it for one month.

Fischer is set to join Brussels-based industrial holding company RJH International as the firm's co-chief executive. He was formerly chief executive of Winterthur, the insurance group that was owned by Credit Suisse but sold to Paris-based Axa in December. He had only formally commenced his new role at the beginning of March. (See: Credit Suisse to retain Winterthur chief executive)

Credit Suisse EMEA chairman Michael Philipp, who previously held Fischer’s job, will now take back his old post until a long-term replacement is found.

The departure comes after Brady Dougan, chief executive of the bank's investment banking group, was named as its next chief executive. He will assume the role after Credit Suisse’s annual general meeting on May 4, when incumbent Oswald Grübel retires.