Swiss lender UBS is all set to buy its rival, the crisis-hit Credit Suisse, for a whopping sum of $3.35 billion to assuage the confidence of Credit Suisse’s investors. Last week, shares of Credit Suisse plummeted by more than 30 per cent which triggered its top shareholder Saudi National Bank to deny fresh funding to the bank embroiled in a capital crunch.
Credit Suisse’s acquisition by UBS involved a team headed by Credit Suisse’s chief financial officer (CFO) Dixit Joshi. Here’s all you need to know about the Indian-origin executive:
- Dixit Joshi, born in Durban in South Africa in 1971, is a British citizen and started working with Credit Suisse in October 2022.
- Joshi has a Bachelor of Science (BSc) in Actuarial Science and Statistics from University of the Witwatersrand, South Africa.
- Joshi started his career with Standard Bank of South Africa in 1992 where he worked till 1995.
- In his first term at Credit Suisse which started in 1995, he served various roles in its equity trading business in New York and London till 2003.
- Joshi joined Barclays when the bank was expanding its investment banking in 2003. At Barclays, he headed its EMEA equities and equity derivatives department till 2010.
- Before joining Credit Suisse for the second time, he served a decade long period from 2011 to 2022 at Deutsche Bank where he worked as a group treasurer. Additionally, he also headed various departments like ICG debt, listed derivatives and markets clearing, global prime finance and APAC equities at Deutsche Bank.
- He also serves as an active board member of Pratham which is a UK-based charity and also as a trustee of Student Sponsorship Progamme based in South Africa.
- Joshi has three daughters and is a teetotaller and a vegetarian.