Urs Rohner

Urs Rohner (born 1959) is a Swiss lawyer, businessman and banker. He is the former CEO of ProSiebenSat.1 Media and former chairman of Swiss bank Credit Suisse.[1] After his 10 year tenure the share price lost 75% of its value leaving the bank engulfed in various scandals and subsequently apologizing for his poor performance at the last shareholder meeting.[2] [3] He is considered one of the worst chairmen in Swiss banking.[4][5]

Urs Rohner
Born1 December 1959 (1959-12) (age 62)
Zürich, Switzerland
EducationUniversity of Zurich
OccupationLawyer
SuccessorAntónio Horta-Osório
Board member ofCredit Suisse (2011-2021)
Spouse(s)Nadja Schildknecht

Early life

Rohner was born 1959.[6] He competed as a hurdler in the 1982 European Athletics Championships.[7] He earned a master of laws from the University of Zurich in 1983.[6][7]

Career

Rohner began his career at the law firm Lenz & Staehelin in Zurich,[7] where he was a partner from 1992 to 1999.[8] He subsequently practised for Sullivan & Cromwell in New York City.[8] He served as the chief executive officer of ProSiebenSat.1 Media from 2000 to 2004.[7]

Rohner became the chief lawyer at Credit Suisse in 2004.[7] He was its vice chairman from 2009 to 2011.[8] Since 2011, he has served as its chairman.[6] In 2017, he was criticized by investors for his poor performance.[7] Urs Rohner retired in May 2021 from the Board of Credit Suisse - during his 10 year tenure, the stock price has fallen by over 70%. [9] In the last year of his tenure, Rohner appointed Lara Warner with no prior risk management experience to Chief Risk Officer of the bank in a push for diversity. Consequently, Credit Suisse's clients lost around $3bn due to the collapse of Greensill.[10] Furthermore, with the collapse of Archegos Capital Credit Suisse lost over $5.5bn exposing its weak risk management, which Rohner in the aftermath of the financial crisis promised to reform.[11]

For his poor performance at Credit Suisse, Urs Rohner received 43.5 million CHF ($47m) in pay[12]

Rohner serves on the board of trustees of the Lucerne Festival,[8] and the Zürich Opera House, as well as the board of governance of the International Institute for Management Development.[8]

Personal life

Rohner is in a relationship with Nadja Schildknecht, the managing director of the Zurich Film Festival and has a son with her. He has three children from his first marriage.[13]

References
  1. Kelly, Kate (2020-10-03). "The Short Tenure and Abrupt Ouster of Banking's Sole Black C.E.O." The New York Times. ISSN 0362-4331. Retrieved 2020-10-04.
  2. "Credit Suisse Chairman Says Sorry for Losses as He Exits".
  3. "Rise and Fall of Credit Suisse's Urs Rohner".
  4. "Warum Verwaltungsräte mehr schlecht als recht funktionieren".
  5. "Credit Suisse lurches from one risk management crisis to the next".
  6. "Company Overview of Credit Suisse Group AG: Urs Rohner". Bloomberg. Retrieved 2 August 2017.
  7. Franklin, Joshua (25 April 2017). "Credit Suisse investors prepare to grill chairman Rohner over pay". Reuters. Retrieved 2 August 2017.
  8. "Urs Rohner". International Institute for Management Development. Retrieved 2 August 2017.
  9. https://www.bloomberg.com/news/articles/2021-03-29/top-credit-suisse-shareholder-says-chairman-s-pay-should-be-cut
  10. "How Credit Suisse rolled the dice on risk management — and lost".
  11. "Rise and Fall of Credit Suisse's Urs Rohner".
  12. "Credit Suisse lurches from one risk management crisis to the next".
  13. Erik Nolmans: Credit Suisse: Der Aufsteiger. In: Bilanz 23/2010. 17 December 2010 (German).



This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.