Brady Dougan takes over Credit Suisse today, becoming the Swiss bank's fourth CEO in the last 10 years, and the first one to succeed peacefully and not from someone getting ousted. Dougan, former head of the investment banking division, is the first American to hold the position. When former CEO Oswald Gruebel handed Dougan the keys today, his instructions were simple - "Don't touch anything!" It will be Dougan's mission to maintain the current status quo at Credit Suisse, which is to kick UBS's arse and continue to grow earnings, which have doubled in the last three years.

Dougan's (much publicised) propensity to work 16 hour days (in other words he's still an I-banking analyst at heart), run marathons and save kittens has translated into a rapid career ascent marked by displacing those who leave the company (Mack) or come under intense regulatory scrutiny (Wheat/Quattrone).

Despite the changing of the guard love-fest, all is not necessarily rosy with Credit Suisse. The bank has an underperforming asset management division that may be subject to a creit lowering (in the London unit) due to the departure of several key executives. There is also insider-trading trouble, as NY banker Hafiz Naseem was arrested yesterday on the charge of tipping off investors.

Despite the complaints we constantly hear about the outsized power of the Swiss from some of our favorite bankers at Credit Suisse here in New York, especially those few still lingering around from the days before they erased the name First Boston from the earth, Credit Swiss just put a young American in its corner office.

Credit Suisse Group, rebounding from years in the shadow of its bigger rival UBS AG, reported record fourth-quarter earnings of 4.67 billion francs ($3.8 billion) and elevated Brady Dougan, a former derivatives trader, to succeed Oswald Gruebel as chief executive officer.

The promotion of the 47-year-old Dougan, who started his career 25 years ago at New York-based Bankers Trust Corp., makes him the first American to take sole possession of the executive suite at the second-largest Swiss bank and shows the growing influence of Wall Street on the global capital markets.

So who is this Brady Dougan fellow who has conquered the gnomes? Dougan first came to widespread public attention when he took over Credit Suisse's investment bank in 2004 after the departure of John Mack. At the time, he was said to be the youngest CEO on Wall Street. According to a 2005 Business Week article, "Brady W. Dougan bears few of the outward signs of power on Wall Street. He doesn't wear flashy cuff links. He doesn't play golf. And he doesn't drink fine wines -- just Diet Coke."

He's also known as a controversial cost-cutter who let go an prominent high-yield bond banker, spun-off the private equity business just before private equity became the next big thing, and notoriously ordered employees to cut down on office supplies and expenses, such as color copies.

But, of course, our readers are usually our best sources. So we're turning it over to you. In the comments section below, we invite you to share any rumors or tales of actual encounters with young Brady.

Credit Suisse Promotes Dougan to CEO; Earnings Rise [Bloomberg]