Easy hand-off

When Josef Ackermann moved up from running investment banking to the top job at Deutsche Bank in 2002, he had a problem - severe underperformance in his old division. Ackermann the chief executive had to correct the errors of Ackermann the former division head. Brady Dougan, who is making the same move at Credit Suisse, won’t have that problem. The Swiss bank performed as strongly as expected in the first quarter, thanks largely to Dougan’s investment banking division. Brushing off problems in ...