The CEO has rejected speculation that he is thinking of running for political office in his home country.

Tidjane Thiam, who has been the chief executive of Credit Suisse since 2015, yesterday said, in a response to media and internet speculation, that he has no desire to run for the presidency of the Ivory Coast, his home country, .

“I have made a long-term commitment to Credit Suisse and its clients, employees and investors, that I will lead this bank. Having spent three years at the helm of Credit Suisse, my task is not yet completed and I have every intention of continuing with it," Thiam said in a statement. It is understood some comments that had appeared in the Swiss local media had fuelled some speculation.

Presidential elections will be held in the Ivory Coast on 31 October 2020. The incumbent President Alassane Ouattara has announced that he will not run again after being president for two terms (2010–2015 and 2015–2020).

"The strategy that we have designed for Credit Suisse and are executing with discipline is delivering good results. I therefore intend to remain in post as CEO of Credit Suisse and to oversee the development of our activities following this period of deep restructuring," Thiam continued.

"I have close ties to the Ivory Coast, where I was born, and to Africa. I spent six years working for the government of the Ivory Coast and I have made many contributions to the development of the country. As many Ivorians know, I contributed to the construction of roads, primary schools, high schools, hospitals, wells, and power plants throughout the Ivory Coast, as well as to the Third Bridge of Abidjan – one of the largest in Africa – a project which I initiated and developed over a period of several years," he said.

Thiam's firm recently issued second-quarter financial results that, the bank said, showed that a period of - at times painful restructuring - is bearing fruit. Along with some of its peers, Credit Suisse is pushing further into markets such as Asia, while also de-risking some of its balance sheet.

"I am both humbled and honored by the encouragement and support I have been shown recently by many of my fellow Ivorians and more generally by a large number of Africans. I am very touched by this and I would like to express my sincere gratitude to them. However, I have said repeatedly for a number of years that I am determined not to get involved in politics," he added.

A number of senior bank figures have moved into politics and policymaking fields over the years. France's Emmanuel Macron is a former banker, while former US Treasury Secretary Robert Rubin, who worked in the Clinton administration, was a senior figure at Goldman Sachs.