February 26, 2019 / 6:48 AM / 3 months ago

Credit Suisse reshuffles executive board

The windows of a Swiss bank Credit Suisse branch are closed during a May Day demonstration in Zurich, Switzerland May 1, 2018. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Credit Suisse Chief Executive Tidjane Thiam on Tuesday made Lara Warner group chief risk officer in a reshuffle of the Swiss bank’s executive board that comes after three years of restructuring.

Warner replaces Jo Oechslin, who is to take a new newly created senior advisor post for risk management while leaving the executive board. Warner previously held roles including chief financial officer for the investment banking division.

Credit Suisse also said Lydie Hudson, an 11-year Credit Suisse employee, was appointed chief compliance officer, while Antoinette Poschung, who joined the bank in 2008, will become global human resources head, replacing Peter Goerke.

Goerke, a longtime Thiam ally who also joined Credit Suisse from insurer Prudential Plc in 2015, will leave the executive board but take on a new role as senior advisor for new projects, with a focus on Asia and China. Both Hudson and Poschung join the executive board, Credit Suisse said.

Thiam, who has cut some 1,600 jobs, focused on wealth management and settled legal cases that piled up under his predecessors during a three-year restructuring program, said the executive leadership changes would help Credit Suisse “continue to make progress in our journey of improvement”.

“They reflect the quality of the talent available at the firm and the diversity of backgrounds and experiences among our leaders,” Credit Suisse said in a statement, adding the management changes are effective immediately.

Reporting by John Miller, editing by John Revill

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