It will be the first time someone from a derivatives background has been chosen to run a major investment bank. Dougan is also the first American to lead Credit Suisse Group. He will move from New York to Zürich, and report directly to the board.
Paul Calello, chief executive of Asia-Pacific, will replace him as chief executive of investment banking. He moves from Hong Kong to New York, and reports to Dougan.
Meanwhile, Robert Shafir takes on some responsibilities previously handled by Dougan, becoming chief executive of the Americas. He joins from Lehman Brothers, where he was head of equities, and will be based in New York.