Credit Suisse vice- chairman to leave in board shakeup

Zurich

CREDIT Suisse Group vice-chairman Severin Schwan is stepping down from his role, along with 2 other members of the board of directors, as the Swiss bank continues to renew its top supervisory body following a series of scandals.

Christian Gellerstad will become vice-chairman and also take over as head of the compensation committee from Kai S Nargolwala, who like Schwan won't stand for reelection at the annual general meeting. Credit Suisse also said it intends to name Richard Meddings as chair of the risk committee and Mirko Bianchi to oversee the audit committee.