A spring renewal is coming to the board of directors at Credit Suisse, with Vice Chairman Severin Schwan among those stepping down.
Severin Schwan, the current vice-chairman of the board at Credit Suisse will not stand for re-election when the bank holds it annual general meeting April, 29, Credit Suisse announced Monday.
Joining Schwan in leaving are longtime board members Kai S. Nargolwala, and Juan Colombas, who joined the board last August with Lehmann.
Chairman Alex Lehmann will be joined on the board by Mirko Bianchi, Keyu Jin and Amanda (Mandy) Norton who have been proposed to shareholders for election as non-executive members. Christian Gellerstad will become vice chairman and lead independent director, while Briton Richard Meddings will become chairman of the risk committee.
The changes come in the aftermath of the ouster of former chairman António Horta-Osório in January, who was replaced by Lehmann. Schwan, who is CEO of Roche, played a major role in the appointment of Horta-Osório.
New Colleagues
Bianchi comes from Italian bank Unicredit where he served as chief financial officer and CEO of private banking, and had stints at UBS, Deutsche Bank and Moody's Investor Services.
Jin is a professor at the London School of Economics, and her research is in global capital flows, international technology competition and China's growth model. She is also a non-executive director at Richemont Group and Qingdao AInnovation.
Norton comes to Credit Suisse having recently been chief risk officer at Wells Fargo, and served as a risk executive in JPMorgan and Bank of America.
«I am delighted that Mirko, Keyu and Mandy have been nominated to join our Board. Both Mirko and Mandy bring highly relevant banking, finance and risk experience, with careers spanning more than three decades in globally leading financial institutions. Keyu will further strengthen the Board's focus on the APAC growth region and position the Board closer to China's next generation and fintech development,» said chairman Lehmann.
The committee chairs on the board will be filled as follows:
Axel Lehmann: chairman governance and nomination committee.
Mirko Bianchi: chairman audit committee
Christian Gellerstad: chairman compensation committee
Clare Brady: chairman conduct & Financial crime control committee
Richard Meddings: chairman risk committee
Blythe Masters: chair digital transformation & technology committee
