New Delhi: Credit Suisse, the second largest bank of Switzerland, is the latest to crumble on back of biggest banks collapse in United States, namely Silicon Valley Bank & Signature Bank. However, the one coming to its rescue is USB, a banking rival and also the biggest bank of Switzerland.
According to reports, the UBS is set to acquire the beleaguered Swiss rival Credit Suisse for $3.25 billion. The move is not just aimed at salvaging the latter but also assuaging the market fears. Credit Suisse’s stocks had plunged more than 30% after reports of banking failures in United States.
What role he played in finalized Credit Suisse deal?
While UBS prepares for Credit Suisse takeover, the person at the helm in maintaining latter’s healthy balance sheet & negotiating its strategic interests is Dixit Joshi. The Indian origin person, having appointed Credit Suisse CFO in October 2022, has been putting best foot forward in keeping the bank’s balance sheet in green. He had taken over from David Mathers, who served as CFO since 2010.
About Dikshit’s career & education
Here are 5 facts about the seasoned development banker
Dixit Joshi, born in Durban (1871), studied BSC (Actuarial Science and Statistics) at University of the Witwatersrand in South Africa. With more than 3 decade long career, he has served in various leading capacities in banks.
The 51-year-old had joined Credit Suisse for the first time in 1995.
His working decade of 2011-2022 is most prominent & talked out. He played key role in overhaul of Deutsche Bank, which faced similar situation as Credit Suisse currently.
The billionaire CFO takes keen interest in social initiatives also. He is active member on the Pratham, a UK-based NGO that seeks to empower India with education programs.
