Credit Suisse’s board member in charge of its risk committee has stepped down as fallout from “unacceptable” losses in the wake of collapses at Archegos Capital and Greensill Capital continues to roil the Swiss-based bank.
Andreas Gottschling told the bank Friday he would not stand for re-election. Proxy adviser Glass Lewis and other investors had been urging shareholders to vote against extending his term. Gottschling served on the Credit Suisse board since 2017 and on the board of Credit Suisse International since 2018, according to his LinkedIn profile.
