Francesca McDonagh expected to remain in Credit Suisse leadership role

The troubled bank was recently purchased by UBS in a rescue deal arranged by the Swiss government

Francesca McDonagh is one of three top executives expected to remain in the bank’s management team. Picture: Fergal Phillips

Francesca McDonagh, the former chief executive of Bank of Ireland, is one of three top level Credit Suisse executives expected to retain their roles with the troubled bank.

A report by the Financial Times listed McDonagh, Credit Suisse’s chief operating officer, along with Dixit Joshi, its chief financial officer and André Helfenstein, the company’s chief executive for Switzerland, as likely to remain on the management team.

The news comes after a torrid start to the year for Credit Suisse, which led to it being purchased by UBS for €3 billion in a rescue deal arranged by the Swiss government. UBS subsequently took on over €4.5 billion in losses.