Claude Moser becomes the new group treasurer at Credit Suisse effective December 21. He had a long career at UBS.
Thirty-year UBS veteran Claude Moser joins Credit Suisse on Wednesday as group treasurer, reporting to chief financial officer Dixit Joshi, according to an internal Credit Suisse memo seen by finews.asia.
Moser comes from Orbit36 Risk Finance Solutions, a management consulting boutique where he was vice-chairman since 2021, before which he spent three decades at UBS. His most recent role at the latter was global head of group asset and liability management.
International Experience
Moser's career stops include Singapore, New York, London, and Zurich. His area of expertise is front-to-back governance and risk management of regulatory and economic financial resources, limits and allocation processes, according to the report.
He succeeds Gian Marco Martino who becomes deputy group treasurer, who joined Credit Suisse in 1995 and became the group treasurer in 2020.
Old Acquaintances
Moser knows current CEO Ulrich Koerner and Chairman Axel Lehmann from their years together at UBS.
The most recent capital increase was completed. However, the refinancing of the bank on the bond market has become more expensive. In November, the bank explained in retrospect that it had to activate liquidity buffers at times. In certain legal entities, liquidity had temporarily fallen below regulatory requirements.
Improved Capital Base
On the other hand, Credit Suisse maintained that the ratio of common equity tier 1 (CET1) will be at least 13 percent throughout the transformation period starting in 2023 and is expected to rise to more than 13.5 percent by the end of 2025. In the past third quarter, this figure fell to just 12.6 percent but is expected to be 14 percent since the capital increase. 10 percent marks the regulatory minimum.
For the fourth quarter, the Group expects a pre-tax loss of up to 1.5 billion Swiss francs.
