 In March 2013, the Financial Services Authority fined Prudential £30m and censured its CEO, Thiam, for failure to inform it of its plans to buy AIA and failure of dealing with the FSA in an open and cooperative manner.Thiam was appointed the chief executive officer (CEO) of Swiss investment bank and financial services company, Credit Suisse Group AG on 10 March 2015.An hour after his appointment was announced, the company stock increased by 7.5%.