Leaves after four months – Head of Compliance leaves Credit Suisse

Credit Suisse has to fill the position of Head of Swiss Compliance: As the big bank announced on Monday morning, the current president Floriana Scarlato is leaving the financial institution at her request with immediate effect.

The Director did not manage the compliance department at Credit Suisse (Schweiz) AG until March 1, 2021. Prior to that, she was Head of Compliance for the bank’s international asset management business.

Credit Suisse does not provide any information on the reasons for leaving. The portal Inside Paradeplatz notes that billions in losses from the Greensill Fund and Archegos Hedge Fund should not play a role. Instead, Scarlato was struck by her leadership style in the executive suite. A CS spokesperson confirmed that the move had nothing to do with Archegos and Greensill. The bank does not comment further.

The effects of the Archegos disaster continue to weigh on the financial institution. The resignations have been worrisome for weeks Chief executive officer in various fields of the investment bank, and makes headlines in the American media.

Scarlato joined Credit Suisse in 2005 and has held various management positions. She founded a global compliance organization in the International Wealth Management division and was Head of Client Privacy and Cross Borders in Private Banking.

Between 2013 and 2015, Scarlato was Head of Private Banking and Wealth Management for Business Risk Management.

She was also a member of the board of directors of Credit Suisse Italy SpA and a member of the supervisory board of Credit Suisse Deutschland AG.

Publication date: 07/12/2021, 9:48 am

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