The impending arrival of Prudential chief executive Tidjane Thiam, who has no direct experience of banking, to replace Credit Suisse chief executive Brady Dougan has sparked speculation in the City about the future strategy of the Swiss group and the investment banking arm that Dougan once led.

Analysts on Tuesday said that the hire of Thiam, who boasts a degree of political acumen that is likely to stand him in good stead in Switzerland's modern-day banking landscape, will be taken favourably by the market. Shares in Credit Suisse were trading around Sfr24.94 early on Tuesday afternoon, up from the previous day's close by 7.5%.