July 1 (Bloomberg) -- Credit Suisse Group AG, Switzerland’s second-biggest bank, hired Joachim Oechslin from Munich Re as its chief risk officer, succeeding Tobias Guldimann.
Oechslin, 42, starts on Jan. 1 and will be a member of the executive board, the Zurich-based company said in an e-mailed statement today. Guldimann will become head of reputational risk, corporate responsibility and regulatory policy.
Munich Re, the world’s biggest reinsurer, appointed Oechslin chief risk officer in 2007. Prior to that, he was deputy head of risk at Paris-based Axa SA. A Swiss citizen, Oechslin studied electro-technics and mathematics in Zurich and Winterthur, before joining McKinsey & Co. in 1998 as a consultant in Zurich. He joined Winterthur Life & Pensions in 2001 and two years later was appointed chief risk officer of Winterthur Group, which was acquired by Axa in December 2006.
“The risk management function is of strategic importance for our industry and for Credit Suisse,” Chairman Urs Rohner said in the statement. “We are very pleased that we have been able to ensure a smooth transition in the leadership of this critical function.”
Guldimann, 51, who joined Credit Suisse in 1986, has been the bank’s chief risk officer since 2004. He will step down from the executive board when he assumes his new role.
“Under his leadership Credit Suisse has a track record of very low credit losses over many years,” Rohner and Chief Executive Officer Brady Dougan said in the statement. “He has helped steer the bank through very challenging markets and has been instrumental in ensuring that Credit Suisse continues to implement sound and constructive policies in the evolving global regulatory environment.”
To contact the reporter on this story: Elena Logutenkova in Zurich at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com