Credit Suisse’s chief compliance officer will depart the bank as it continues a shake up by its new chairman in the wake of a series of costly scandals.
The banking giant announced that its Swiss chief compliance, Floriana Scarlato, would leave with immediate effect to explore opportunities elsewhere.
Recently appointed chairman Antonio Horta-Osorio has vowed to take a closer look at risk management and culture within Credit Suisse.
Under Horta-Osorio as chairman of the bank, a role he took up two months ago, the bank has also separately named Markus Ruetimann, an ex-UBS manager, as new global chief operating officer of Credit Suisse Asset Management.
Scarlato joined the company in 2005 but had only been appointed as the head of compliance at Swiss Universal Bank (SUB) since 1 March.
One of her previous roles included that of chief compliance officer at Credit Suisse’s international Wealth Management division – where sources have claimed a post-Greenshil overhaul is currently being considered, according to a Reuters report.
Scarleto’s departure follows the exit of another chief risk and compliance officer at the bank, Lara Warner, who left in April.
The decision comes as the bank grapples with the aftermath of a series of blunders.
The Swiss bank has been mired in controversy in recent months due to its exposure to the collapse of supply chain finance firm Greensill Capital, which forced it to close $10bn in linked funds, and then suffered further billions in losses after the family office Archegos imploded.
Investors are facing billions of dollars in losses, with some expected to sue the bank over alleged mismanagement of funds.
The lender has also come under extra fire for its personal relationship with Sanjeev Gupta, the founder of the GFG Alliance and one of Greensill’s clients.