Credit Suisse's CEO Tidjane Thiam addressed rumors that he is considering a presidential run in his native Côte d'Ivoire. Is he flirting with a return to politics after a gruelling revamp of the Swiss bank?

Zurich-based Credit Suisse issued a statement on Thursday after the stock market closed, titled «Statement from the CEO.» Tidjane Thiam, head of Credit Suisse since 2015, said he wanted to address speculation in media that he might stand in Côte d'Ivoire's 2020 presidential elections.

In short, he won't: «I have said repeatedly for a number of years that I am determined not to get involved in politics,» Thiam said in the statement. «Having spent three years at the helm of Credit Suisse, my task is not yet completed and I have every intention of continuing with it.»

Next Steps?

The fulsome statement nixing a career in politics come as speculation rises over what the inscrutable CEO plans for his next act. The speculation isn't for naught: Thiam is ending a chapter. He is closing in on a gruelling three-year restructuring of Credit Suisse. The banker puffed swelled with pride recently accepting an industry award, with his two grown up sons present, for the revamp. 

French-educated, Thiam ran Côte d'Ivoire's national bureau for technical studies and development in the 1990s. He eventually joined government, but was ousted and put under house arrest when the government was overthrown in a 1999 military coup. Thiam headed back to Paris and McKinsey, leading to his CEO jobs at Aviva, Prudential, and eventually Credit Suisse.

Biding His Time

Famously ambitious, he was long rumored in the running for the top job at the International Monetary Fund, currently held by Christine Lagarde. Thiam debunked the speculation two years ago, saying he intended to see through Credit Suisse's revamp.

Which he has done, as finews.asia reported in July. On Thursday, the 56-year-old signalled that he is biding his time: «The strategy that we have designed for Credit Suisse and are executing with discipline is delivering good results. I therefore intend to remain in post as CEO of Credit Suisse and to oversee the development of our activities following this period of deep restructuring.»