Scandal-hit Credit Suisse names new interim heads of internal audit – memo

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ZURICH, Sep 30 (Businesshala) – Credit Suisse (CSGN.S) has appointed company veterans Nitesh Patel and Roger Santeller as interim co-heads of Group Internal Audit, Switzerland’s second-largest bank told employees it was serious Tries to overcome risk – Management fails.

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“Following the recent appointment of Rafael López Lorenzo as Chief Compliance Officer, I have asked Nitesh Patel and Roger Santeller to act as Interim Co-Head of Group Internal Audit with effect from October 1, 2021,” said Richard Meddings , board members and chairman of Credit Suisse’s Risk and Audit Committees, told employees in an internal memo seen by Businesshala on Thursday.

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A spokesperson confirmed the contents of the memo.

López Lorenzo was named this month to the chief compliance role as Credit Suisse seeks to overhaul risk and compliance following a series of scandals and prepares for a strategic reform under chairman Antonio Horta-Osorio.

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The collapse of a $10 billion supply chain finance fund linked to Greensil in March triggered a tumultuous period for the bank, which, along with multi-billion dollar losses related to investment fund Archegos, prompted a raft of executive expulsions. inspired.

“Both Nitesh and Roger have served as Chief Auditors in a wide variety of front and back office areas with an extensive track record, as well as board level experience at Credit Suisse on their respective legal entity boards in the UK and Switzerland. has reported.” Memodings said in the memo.

Patel joined Credit Suisse in 2003 and now serves as chief auditor for Transformation, Third Party, Operations and Technology.

Centeller, who joined Credit Suisse from EY in 2016, now serves as the chief auditor for international wealth management and global wealth management, as well as the location head of internal audit in Switzerland.

Reporting by Brenna Hughes Neghavi; Editing by Michael Shields

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