Embattled Credit Suisse Names New Compliance Chief

By Emily Lever (September 8, 2021, 2:28 PM EDT) -- Credit Suisse announced Wednesday it had promoted a new chief compliance officer from its own ranks as the bank cleans house following a pair of scandals.

Rafael Lopez Lorenzo, the current global internal audit chief, will take over Oct. 1 as chief compliance officer as the Swiss lender attempts to come back from the implosion of two clients, which cost it billions of dollars, investor lawsuits and regulatory scrutiny. Lopez Lorenzo took a "pivotal" role in the company's internal probe of the scandals, according to a Wednesday press release.

Lopez Lorenzo succeeds interim compliance chief Thomas Grotzer, who has held the job...

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