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Credit Suisse names Koerner as CEO, sets strategic review

Credit Suisse named asset management expert Ulrich Koerner as its new chief executive on Wednesday, the latest sign of churn at the Swiss bank that announced a strategic review as it struggles to recover from a series of scandals.

Pressure had been mounting on current chief executive Thomas Gottstein for months over the scandals and losses racked up during his two-year tenure that have hammered shares and angered investors.

In recent months some investors had called for Gottstein to be replaced, but the bank had resisted.