Credit Suisse appoints Goldman Sachs' Wildermuth to lead risk turnaround

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Credit Suisse (CSGN.S) on Tuesday appointed Goldman Sachs' (GS.N) David Wildermuth as its new chief risk officer, as it seeks to turn the corner on the Archegos and Greensill scandals that have rocked Switzerland's second-biggest bank.

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David Wildermuth as its new chief risk officer, as it seeks to turn the corner on the Archegos and Greensill scandals that have rocked Switzerland's second-biggest bank.

Switzerland's second-biggest bank has cut risk after its prime brokerage business lost more than any other competitor from the collapse of family office Archegos, and as its asset management division scrambles to return some $10 billion of client investments linked to insolvent supply chain finance firm Greensill.

Former Chief Risk and Compliance Officer Lara Warner was one of the high-level casualties, replaced on an interim basis by Joachim Oechslin, who the bank said will resume his role as strategic advisor to the CEO.

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