- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-08-17T17:27:00
In a continuing overhaul of its risk and compliance leadership, Credit Suisse announced the nominations of Axel Lehmann and Juan Colombas to serve as non-executive members of its board.
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António Horta-Osório, the leader who was supposed to bring stability and accountability back to Credit Suisse, resigned after eight months as chairman following an investigation into his flouting of Covid-19 rules.
An independent report commissioned by Credit Suisse to examine the bank’s failures that led to $5.5 billion in losses when Archegos Capital Management collapsed this year concluded a series of missteps by risk and compliance failed to escalate numerous red flags.
Credit Suisse Group has appointed longtime Goldman Sachs risk management expert David Wildermuth as its chief risk officer.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
