The Swiss bank named two executives to stand in for its long-time chief auditor, who is joining top management. It is the latest in a series of changes following several painful blow-ups.
Zurich-based Credit Suisse is appointing Nitesh Patel and Roger Senteler to stand in as co-heads of its internal audit, effective from October 1, according to a memo seen by finews.com on Thursday. The duo temporarily replace Rafael Lopez Lorenzo, who follows Lara Warner as the Swiss bank's top compliance official.
The news – confirmed by a Credit Suisse spokeswoman – was conveyed by Richard Meddings, who chairs the bank's audit risk committees. Ex-UBS banker Axel Lehmann is due to be elected to Credit Suisse's board on Friday and will take over the board's risk oversight.
Both of Lorenzo's replacements are veterans of the bank: Patel is currently the chief auditor for change, third-party, operations, and technology. Senteler holds the same role for Credit Suisse's wealth management activities. The bank plans to replace Lorenzo permanently «in due course,» Meddings wrote in the memo.
