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Canada’s largest bank said its chief executive Gordon Nixon will retire effective Aug. 1, after 13 years at the helm of the bank. Nixon will be succeeded by Dave McKay, group head of the lender’s personal & commercial banking arm.


The Swiss bank has chosen operations chief Ulrich Koerner to run the bank’s asset management arm when its head retires next year, an appointment that suggests a restructuring of the business may be on the cards.

The lender said Koerner would keep his job as head of Europe, the Middle East and Africa but would no longer be head of operations from Jan. 1, when he will replace John Fraser as chief executive of asset management.


Credit Suisse said its Chief Risk Officer Tobias Guldimann will leave the bank at the end of the year instead of taking over a newly created role inside the bank, confirming information obtained by Reuters.


The Bank of Canada said Senior Deputy Governor Tiff Macklem will resign from the central bank in May 2014 to become dean of a business school in Toronto.


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