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Global Banks Search for McKinsey in CEO Resume

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UPDATE: Tidjane Thiam has been named the new CEO of Zurich-based Credit Suisse Group AG – both companies have confirmed. Current Credit Suisse CEO Brady Dougan will step down in June 2015.

Corporate climbers take notice, as global banks become increasingly complex with regulatory rules and lower profitability in traditional areas of finance – corporate boards are seeking strategy experts. A growing number of McKinsey & Co. alumni run Fortune 500 companies. This trend is gaining traction with global banks, where traditionally, investment bankers became CEOs. However, having McKinsey on a CEO’s resume shouldn’t be an automatic stamp of board approval. Jeff Skilling, former CEO of Enron, who became a convict, was a former McKinsey employee.

Credit Suisse and Morgan Stanley

Zurich-based Credit Suisse Group AG is looking to replace its CEO Brady Dougan who has a history of investment banking. The replacement appears to be Tidjane Thiam, the current CEO of U.K.’s Prudential insurance group. Thiam joined Prudential in 2009, shaking things up by allocating investments into Asia. Thiam had a stint as a management consultant at McKinsey.

Select McKinsey Alumni – CEOs and Presidents of Financial and Finance-Related Companies*

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Crown Property Bureau Moves Assets to Thailand King Under 2017 Law

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In December 2016, Crown Prince Maha Vajiralongkorn became King of Thailand, succeeding his father King Bhumibol Adulyadej who passed away in October 2016. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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