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Credit Suisse Sets Up New Financing Group to Boost Risk Control

  • Lender consolidates lending to wealthy clients under one group
  • Credit Suisse is seeking to improve controls following losses

Credit Suisse Group AG set up a new unit to oversee lending to wealthy clients across various regions and businesses, as the Swiss bank seeks to improve collaboration and better align risk management.  

The new global financing group will be headed by Lawrence Fletcher with immediate effect, according to a memo seen by Bloomberg. The bank will also set up a trading risk management and syndication function, focusing on structured lending and the overall risk and capital profile of the financing business.