Credit Suisse likely to shake up its senior management team: Report

The bank said last week it expected to report a first-quarter loss after increasing legal provisions, seeing business activity slow and taking a hit from the fallout of Russia's invasion

Loss-making Credit Suisse could shake up senior management as new Chairman Axel Lehmann seeks to put the embattled Swiss bank back on stable ground, Swiss Sunday newspaper NZZ am Sonntag reported. Citing unnamed sources, the paper said Chief Legal Officer Romeo Cerutti, finance chief David Mathers, and Asia-Pacific regional boss Helman Sitohang were set to step down. These three were the longest-serving members of the bank’s 12-member executive board. Asked about the report, a spokesperson said the bank had been implementing a new strategy and organisational structure announced last November that sharpened its focus on wealth management and scaled back