Francesca McDonagh to leave Credit Suisse senior position for a new role

One of the first high-profile departures since a cull among Credit Suisse’s leadership shortly after the historic takeover closed in early June

Previously the CEO of Bank of Ireland Group Plc, McDonagh had been hired to oversee the Europe, Middle East and Africa region for Credit Suisse.

Credit Suisse Chief Operating Officer Francesca McDonagh is leaving the firm three months after its emergency takeover by rival UBS Group AG.

McDonagh has decided to resign “to pursue a new opportunity outside of the bank,” Credit Suisse Chief Executive Officer Ulrich Koerner said in an internal memo on Monday seen by Bloomberg and confirmed by a spokesperson. “I am very appreciative of her leadership,” Koerner said in the memo, adding McDonagh will “remain available to ensure a smooth transition.”