Francesca McDonagh’s survival at UBS may boost Irish banks via IrishTimesBiz
Francesca McDonagh has been reported to be one of a handful of Credit Suisse executives shortlisted by UBS chief executive Sergio Ermotti to make part of his management team. File photograph: The Irish TimesWhen Francesca McDonagh left Bank of Ireland to join Credit Suisse last year, it seemed like her career would continue on an upward trajectory.
In the end, of course, the troubles at Credit Suisse — long the sick man of European banking — proved too much to overcome. Rival UBS took over the storied lender in a Sunday night shotgun wedding in March as investors and depositors deserted Credit Suisse.In the immediate aftermath of the deal, it looked like most of Credit Suisse’s top team would be handed their P45 sooner rather than later, while the Swiss government moved to impose caps on executive pay at the rescued bank.
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