© Reuters. FILE PHOTO: A logo of Credit Suisse is pictured on a building in Geneva, Switzerland, November 8, 2017. REUTERS/Denis BalibouseBy John Miller
ZURICH (Reuters) -The chief compliance officer at Credit Suisse (SIX:)’s Swiss Universal Bank (SUB) is quitting “with immediate effect” after just 4 1/2 months in the role to pursue opportunities elsewhere, the second-biggest Swiss bank said on Monday.
Floriana Scarlato, who took on the job on March 1, is also stepping down from her posts as SUB management committee member and from the executive board of Credit Suisse (Switzerland) Ltd.
The departure of Scarlato, a Credit Suisse employee since 2005, comes as new Chairman Antonio Horta-Osorio reconfigures the Swiss bank’s strategy following repeated crises, including corporate spying, losses stemming from lending to family office Archegos, and the wind-down of $10 billion funds linked to now-collapsed supply chain finance firm Greensill.
“Floriana Scarlato’s successor will be announced in due course,” Credit Suisse said in a statement.
Horta-Osorio has vowed to scrutinise risk management and culture following Credit Suisse’s serial mishaps, as well as review strategic options for the bank.
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