2023-10-13 21:17:14
Former Credit Suisse Chairman Rainer Gut has died at the age of 91. He is particularly known for having internationalized the business of the former Swiss banking flagship towards the United States.
UBS, which took over the former number two Swiss bank in the spring, expressed its “sincere condolences” to the family of Rainer E. Gut, confirming information from the NZZ on Friday. “He marked the history of the Swiss economy in a decisive way,” said the three-key bank.
Rainer Gut took the reins of Credit Suisse in 1977 following spending most of his career in London and New York.
Swissair, Swiss Re or even Nestlé
After twenty-three years of service, he left a reorganized Swiss banking group, leaving it in first place among Swiss banks in terms of market capitalization and in fourth position in Europe. Among his strong acquisition strategy, the former manager integrated the American investment bank First Boston, the Leu bank and the Winterthur insurance company.
The native of Zug, son of the former director of the Cantonal Bank of Zug, was notably a member of the board of directors of Swissair and Swiss Re. He was also chairman of the board of directors of Nestlé from 2000 to 2005.
Patron of GC
Rainer E. Gut was also a former patron of the Grasshoppers. It was under his leadership that the Zurich club won the last two of its 27 titles, in 2001 and 2003. His contribution to the Grasshoppers’ profit, according to reliable sources, approached 100 million francs.
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