Change to the Board of Trustees of the Pension Fund Credit Suisse

The Executive Board of Credit Suisse Group AG has appointed Michel Degen, Managing Director, Head of Credit Suisse Asset Management Switzerland & EMEA, and Christian Stark, Managing Director, Head of Group Performance Analytics & Governance, as new members and employer representatives to the Board of Trustees of the Pension Fund of Credit Suisse Group (Switzerland). Both will assume their role with immediate effect.

Michel Degen joined Credit Suisse in 2004 and has more than 20 years of experience in the fixed income and foreign exchange markets areas. Mr. Degen has held key positions within Credit Suisse in Asia and Switzerland, including the roles of Head of Fixed Income Strategy & Head of Asset Management Fixed Income. He previously occupied posts at BNP Paribas and UBS Global Asset Management in areas of fixed-income and foreign exchange markets for various funds and institutional mandates.

Christian Stark has been with Credit Suisse since 2013, initially as Group Head of Investor Relations before assuming his current role as Head of Group Performance Analytics & Governance. Prior to that, he was at CA Cheuvreux as Head of Swiss Equities and Swiss Equity Research, and also worked as an equity analyst for Bankers Trust.

Philip Hess, Chairman of the Board of Trustees, declared his delight at the appointment of the two new members: "Michel Degen and Christian Stark will be excellent additions to the Board's expertise with their longstanding and far-reaching experience. I am grateful that Michel and Christian have agreed to take on these important positions. The Pension Fund will undoubtedly benefit from this strengthening of the Board of Trustees. I extend my thanks to both predecessors Christine Gatti and José Antonio Blanco for their intense involvement in the Board of Trustees for many years."

Duties of the Board of Trustees
As the highest governing body, the Board of Trustees manages and supervises the Pension Fund of Credit Suisse Group (Switzerland). It defines the overall strategy of the Pension Fund and monitors its implementation. During their four years in office, the members of the Board of Trustees dedicate themselves in particular to the areas of pension provision, investment of assets, risk management, and organization of the Pension Fund. The 12-person board appoints the management, the pensions actuary and the independent auditors, while also designating the members of the various Pension Fund committees.