Credit Suisse poised to revamp senior management, NZZ am Sonntag reports

The logo of Swiss bank Credit Suisse is seen at an office building in Zurich, Switzerland February 21, 2022. REUTERS/Arnd Wiegmann/File Photocould shake up senior management as new Chairman Axel Lehmann seeks to put the embattled Swiss bank back on stable ground, Swiss Sunday newspaper NZZ am Sonntag reported.

Citing unnamed sources, the paper said Chief Legal Officer Romeo Cerutti, finance chief David Mathers, and Asia-Pacific regional boss Helman Sitohang were set to step down.Register now for FREE unlimited access to Reuters.comAsked about the report, a spokesperson said the bank had been implementing a new strategy and organisational structure announced last November that sharpened its focus on wealth management and scaled back investment banking.

"As part of this work, senior management under the leadership of the group CEO together with the board of directors is regularly discussing succession plans and is reviewing senior appointments for certain positions, including for certain legal entities, regions and the executive board," she added.

The bank is still reeling from losses in 2021, which prompted a top management shake-up, and as it faces further probes over compliance and risk failings such as a $5.5 billion hit from the implosion of investment fund Archegos and the collapse of $10 billion in supply chain finance funds linked to insolvent British financier Greensill.

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