Credit Suisse has appointed Wolfram Peters to the newly created role of chief risk officer (CRO) Asset Management (AM), effective 1 September, 2021.
The appointment follows the hiring of Goldman Sachs veteran David Wildermuth as the chief risk officer by the Swiss investment bank last month.
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Peters will become a member of the bank’s risk executive committee as well as the AM management committee.
He will report to Credit Suisse ad interim chief risk officer Joachim Oechslin and Credit Suisse AM CEO Ulrich Körner.
Peters joins Credit Suisse from Allianz Global Investors, where he served various senior risk management positions including global chief risk officer.
Prior to joining Allianz, Peters spent six years as a management consultant at McKinsey & Company in Germany.
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By GlobalDataRehiring of risk staff
In a bid to overhaul its risk department in the aftermath of Archegos and Greensill debacles, Credit Suisse is reportedly rehiring the staff who depart the firm.
Interim risk chief Oechslin is reinstalling or elevating people who were previously removed or side-lined under ex-CRO Lara Warner, Financial Times reported citing people familiar with the development.
According to sources, Credit Suisse investment bank CRO Ralf Hafner will depart the firm this month.
Hafner will be replaced by Ben Wilkinson, who is currently chief of risk at the Swiss bank’s international wealth management unit.
The sources also divulged that the bank re-hired Valeriu Bajenaru, who was recently poached by Santander after five years at the firm, as global head of enterprise risk management.
As part of the shakeup, Tom Wootton, who has previously managed liquidity risk management, has been appointed by the firm as CRO of the UK division.
A source said that the bank is currently carrying out discussions with more former employees and is expected to reveal several changes in the near future.
