by Thiam radically reshaped Credit Suisse Keystone Tidjane Thiam, who resigned as CEO of Swiss bank Credit Suisse in February, has been tasked with using his connections to build up the Rwandan capital Kigali as an international business location, according to Swiss business newspaper Handelszeitung. Ivory Coast-born Thiam, who also holds French citizenship, has been named president of Rwanda Finance Limited, a government company that is to set up the Kigali International Financial Centre (KIFC), said Handelszeitung, quoting pan-African weekly news magazine Jeune Afrique. The appointment was signed by Prime Minister Édouard Ngirente at the end of a cabinet meeting chaired by Head of State Paul Kagame on Wednesday. The economy of authoritarian-ruled Rwanda suffered
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swiss Business and Economy, Credit Suisse, Featured, Latest News, newsletter, Tidjane Thiam
This could be interesting, too:
Jane L. Johnson writes Contrived Scarcity and Antitrust Lawsuits—“It’s Not a Bag, It’s a Birkin”
David Gordon writes What Is Consent?
Lance Roberts writes Trump Presidency – Quick Thoughts On Market Impact
Robert P. Murphy writes How Can Mining Asteroids in the Future Make Us Richer Today?
Thiam radically reshaped Credit Suisse Keystone
Tidjane Thiam, who resigned as CEO of Swiss bank Credit Suisse in February, has been tasked with using his connections to build up the Rwandan capital Kigali as an international business location, according to Swiss business newspaper Handelszeitung.
Ivory Coast-born Thiam, who also holds French citizenship, has been named president of Rwanda Finance Limited, a government company that is to set up the Kigali International Financial Centre (KIFC), said Handelszeitung, quoting pan-African weekly news magazine Jeune Afrique. The appointment was signed by Prime Minister Édouard Ngirente at the end of a cabinet meeting chaired by Head of State Paul Kagame on Wednesday.
The economy of authoritarian-ruled Rwanda suffered heavily in the wake of the 1994 genocide. The government now wants to turn the country into a “Singapore of Africa”, Handelszeitung reported.
The plan is for Thiam, with his experience and broad network of contacts from his time in politics and at McKinsey, Prudential and Credit Suisse, to play a key role in this, it said.
Thiam, 58, resigned after losing the confidence of the Credit Suisse board following a spying scandal that seriously damaged the bank’s reputation. Major shareholders had pushed for him to stay. Thiam radically reshaped the bank since joining in July 2015, expanding its wealth management division while downsizing its volatile and capital-intensive trading arm.
You Might Also Like
Swatch hopes for sales to pick up quickly after pandemic slump
Swatch Group said it expected sales and profits to improve quickly in the months ahead after the coronavirus pandemic caused a “massive decline” in business for the first half of the year.
Embattled Swiss watch industry targets mainland China
The absence of tourists due to Covid-19 will have significant negative repercussions on the Swiss watch industry. In an attempt to make up for this loss of income, manufacturers are focusing their activities more on mainland China as well as easing off the bling.
Swiss care homes and hospitals charged for mouldy masks
Expired, foul-smelling masks cost nearly a franc apiece for facilities in canton Bern at the start of the coronavirus crisis. As a healthcare worker told Swiss public radio, SRF, on Monday, some of the masks they had received earlier this year had to be recalled because they were covered in mildew.
New Swiss Rail Timetable Speeds up Cross-Border Trips
Next year the train connections from Switzerland to Germany and Italy will be faster. On Wednesday the Swiss Federal Railways unveiled the timetable for 2021. In addition to various inland tweaks, the new schedule brings swifter links from Zurich to Milan (3:17) and Munich (ca. 4hrs). From Zurich there will be ten direct trains to Milan; from Basel, five.
Swiss economist says Covid-19 ‘winners’ should pay more tax
Companies that netted their best-ever earnings during the coronavirus crisis should be subject to extra tax, finds one of Switzerland’s top economists.
Swiss Tourism Industry demands new Covid-19 Quarantine Regime
Foreign visitors from Covid-19 high risk countries should be able to travel to Switzerland with negative corona tests and not have to go into quarantine, say tourism officials. Under Swiss regulations, anyone entering Switzerland from one of the high risk coronavirus countries on a list regularly updated by the Federal Office of Public Health must go into quarantine for ten days to help curb the spread of Covid-19, or risk a fine.
SWISS plans to introduce rapid pre-boarding Covid tests
German airline Lufthansa will introduce rapid tests before certain flights to detect Covid-19 in passengers. If the trial, set to start in October, is successful, it will be expanded to Lufthansa subsidiaries Swiss International Air Lines (SWISS) and Edelweiss.
Swiss government expects 2020 GDP to shrink less than feared
Swiss economic output will shrink by 3.8% this year, a less bad coronavirus-triggered slump than previously expected, the State Secretariat for Economic Affairs (SECO) said on Monday.
Tags: Credit Suisse,Featured,Latest news,newsletter,Tidjane Thiam