Credit Suisse reshuffles CRO positions

As Credit Suisse announced its first quarter results on April 23, which included reporting profits of Sfr2 billion ($1.72 billion) for the period, it also revealed changes to its risk management team.

Tobias Guldimann, currently co-chief risk officer of Credit Suisse, will assume sole responsibility for risk management on the executive board, with effect from June. At this time, Wilson Ervin, the other co-chief risk officer, will step down from the board and take up a new role as a senior adviser, reporting to Brady Dougan, the bank's chief executive. Ervin and Guldimann have worked closely together over the past 10 years on the development of Credit Suisse's risk management strategy and more recently in planning the transition to their new positions.

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