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As Tidjane Thiam ticks off a three-year revamp of Credit Suisse, finews.asia examines the wear and tear on the CEO, who hasn't been very visible at the Swiss bank's headquarters.

When Tidjane Thiam took to the podium of a widely-watched London black-tie awards dinner in July, thanking his partner and his two sons for their support (see video below), he was within striking distance of reaching the goals he set out more than three years ago.

The 56-year-old Thiam’s victory lap in Zurich two months later – in a small auditorium near its Paradeplatz headquarters – was considerably less glamorous.

Cerebral and analytical, Thiam «isn't very visible» is how one top executive in Zurich puts it diplomatically. Specifically, the CEO has sometimes failed to show up at client events organized by the bank where he was billed.

A spokesman for the bank said Thiam had spent 229 days in Zurich so far this year, including 35 weekends. The CEO had also met some 290 clients so far this year, the spokesman said.

Chilly Relationship

Thiam maintains icy relations to Credit Suisse Chairman Urs Rohner, according to several sources familiar with the matter. Rohner himself described the relationship as cool but professional in a recent Swiss television broadcast. The two men (pictured below) frequently disagree, but maintain a dialogue over their differences, he said.

TT Rohner 500

The truth is somewhat murkier: Thiam is irked at Rohner for what he feels is less than full transparency on the dire state of Credit Suisse back in 2015, a source familiar with the matter told finews.com.

Thiam took the top job because he believed he could put his stamp on a growth plan for Credit Suisse – and have a springboard for his next move. Instead, he has spent three years in a gruelling clean-up of the bank. A spokesman said the suggestion is «baseless», and that Thiam was aware of the bank’s situation in 2015 after speaking to Rohner 19 times before taking the job.

The contrast of bright lights in London to Zurich's understatedness is emblematic of the two stages his career plays out on. Thiam is careful to regularly emphasize how much he likes Switzerland.

$20 Mln Deposit

Ill at ease with glad-handing, Thiam is nevertheless keenly aware of his star power. He deftly boasted to a Zurich banking audience recently that one of Hong Kong’s richest men had deposited $20 million with Credit Suisse recently.

When the private banker responsible for the win thanked him, the client responded that «I just did that because I wanted to meet your CEO» – which he did.

Thiam has the charismatic ability to focus on one person unequivocally, according to several people who have worked with him. «Once you have him, he is wonderful, but it can be hard to get that far,» the top executive said.

Fits of Rage

He is also a mercurial leader prone to fits of rage, according to a source who has worked with him. Operating chief Pierre-Oliver Bouée and communications guru Adam Gishen followed Thiam from Prudential (where Gishen was an outside consultant) to Credit Suisse, and both loyalists are expected to depart with him when he leaves.