Credit Suisse has hired a new chief compliance officer for the U.K. and EMEA (Europe, the Middle East, and Africa) regions.
Nita Patel, who worked for Goldman Sachs for 17 years in its London office, most recently as head of asset management compliance for EMEA and APAC (Asia Pacific), was hired by Credit Suisse International in May, according to her LinkedIn profile.
A spokesman for the bank confirmed her appointment.
Patel comes to Credit Suisse at a particularly challenging time for its compliance division. Following the meltdowns of U.S. hedge fund Archegos Capital Management and U.K. firm Greensill Capital, the Swiss bank is on the hook for billions of dollars in losses.
In the aftermath, Credit Suisse parted with Lara Warner as chief risk and compliance officer and replaced her with Joachim Oechslin (risk) and Thomas Grotzer (compliance), who are each still serving in interim capacities.
Credit Suisse has launched investigations into both collapses and made other changes on its executive team, including replacing Investment Bank CEO Brian Chin with Christian Meissner. Andreas Gottschling, the bank’s former board member in charge of its risk committee, also stepped down amid the fallout.
Patel replaces James Coulson as head of compliance in the United Kingdom, Credit Suisse confirmed. Coulson has been the head of compliance, legal and conduct audit at HSBC since January, according to his LinkedIn profile.