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Investment Bank CEO Brian Chin and Chief Risk and Compliance Officer Lara Warner will step down from their roles with immediate effect.
<p><span>Credit Suisse Group AG announced today that Thomas Grotzer, who previously served as General Counsel and Member of the Executive Board of Credit Suisse (Schweiz) AG, has been appointed interim Global Head of Compliance for the Group, effective immediately. As a result, he will step down from his role as General Counsel of Credit Suisse (Schweiz) AG and also from its Executive Board. His successor will be announced in due course. </span></p>
6 Min Read ZURICH (Reuters) -Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds. Switzerland’s No. ...
Credit Suisse overhauls executive board as it estimates Archegos fallout at US$4.7 billion Toggle share menu Advertisement Credit Suisse overhauls executive board as it estimates Archegos fallout at US$4.7 billion Credit Suisse on Tuesday said it was replacing senior managers and reducing proposals for its 2020 dividend and executive compensation as it grapples with the estimated 4.4 billion Swiss franc (US$4.69 billion) fallout from its relationship with Archegos Capital Management LP. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen a...
Switzerland's No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to Archegos, said Chief Risk Officer Lara Warner and Brian Chin, the bank's investment banking head, were stepping down following the losses