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Tidjane Thiam Set to Contest Ivory Coast Presidential Election
Former Credit Suisse Chief Executive Officer, Tidjane Thiam, is poised to run for president in Ivory Coast’s upcoming election, his political party has officially confirmed. This move positions Thiam as a key figure in the Ivorian political landscape and a contender for the nation’s highest office.
PDCI Selects Thiam as Presidential Nominee
Thiam, aged 62, emerged as the sole candidate vying for the nomination to represent the Democratic Party of Ivory Coast – African Democratic Rally (PDCI), the country’s principal opposition party. His selection underscores the party’s confidence in his leadership and his potential to challenge for the presidency.
Return to Ivorian Politics After Decades Abroad
Having spent the past two decades residing outside of Ivory Coast, Thiam has taken a significant step to participate in the presidential race. To be eligible to stand in the election, Thiam had to relinquish his French citizenship, demonstrating his commitment to Ivorian politics.
Thiam’s Business Background and Career
The former government minister has occupied director positions in prominent international corporations including Aviva, Prudential, and Credit Suisse. His tenure at Credit Suisse concluded with his resignation following a publicized surveillance controversy.
Political Analyst Views on Thiam’s Candidacy
Political scientist Geoffroy Kouao, in comments to AFP news agency, suggested that Thiam may not be widely recognized by Ivorian citizens due to his extensive time spent abroad pursuing his business career. Kouao indicated that to achieve victory in the October election, Thiam would need to execute a robust and impactful campaign strategy.
Incumbent President’s Potential Re-election Bid
The ruling RHDP party has not yet declared its nominee. However, current President Alassane Ouattara, 83, has suggested his desire to seek a fourth term in office. This potential candidacy sets the stage for a possibly contested election.
Other Political Figures Barred from Contesting
According to AFP reports, three additional notable individuals, including former President Laurent Gbagbo, have been prohibited from participating in the forthcoming presidential election.
Thiam’s Professional Trajectory
Thiam’s career path has been marked by diverse experiences across various sectors.
Early Career and Political Entry
After achieving the distinction of being the first Ivorian to pass the entrance examination for France’s esteemed Polytechnique engineering school, Thiam returned to Ivory Coast and entered the political arena.
Ministerial Role and Subsequent Business Career
In 1998, at the age of 36, he was appointed planning minister before the PDCI was removed from power in a coup d’état the following year. Following this, he transitioned to a successful international business career.
Leadership at Prudential and FTSE 100 Milestone
In 2009, Thiam achieved a milestone by becoming the first black individual to lead a company listed on the UK’s FTSE 100 stock exchange when he was appointed CEO of Prudential insurance company.
Regulatory Scrutiny and Credit Suisse Tenure
Subsequently, he faced censure from a financial regulator for a lack of transparency surrounding a proposed takeover. After serving five years as the head of the Swiss bank Credit Suisse, he resigned in 2020 following accusations of ordering surveillance on former colleagues, allegations he has denied.
Political Lineage and Regional Connections
Thiam possesses strong connections within West African political circles. He is the great-nephew of Ivory Coast’s first President, Félix Houphouët-Boigny, and his uncle, Habib Thiam, served as Prime Minister of Senegal on two separate occasions, totaling nine years.