(Bloomberg) -- Credit Suisse Group AG appointed Warren Young and Elodie Blanc as co-chief operating officers for the investment bank to succeed Amy Hudson, who’s taking a newly created role as head of business development.
Young and Blanc will begin their new roles July 1, investment bank chief Christian Meissner said Thursday in a memo to staff. Young, based in New York, is currently operating chief for capital markets and advisory and head of strategy for the investment bank. Blanc, who will remain in London, is deputy head of capital markets and advisory for Europe.
“Elodie and Warren have experience working across regions, products and legal entities, which has equipped them well for their leadership roles,” wrote Meissner, who took over as head of the investment bank last month. He described the pair as “strong leaders in risk and controls as well as in human capital, two critical priorities for the investment bank going forward.”
Credit Suisse has been rocked by a series of scandals following the collapse of Archegos Capital Management and supply-chain finance firm Greensill Capital. New Chairman Antonio Horta-Osorio has pledged a wide-ranging review after the bank was forced to suspend billions of dollars of funds it managed with Greensill and took a $5.5 billion hit on Archegos, raising questions about the oversight of key clients.
Read more: Credit Suisse Cuts Risk as Defections Mount in Wake of Scandals
Hudson, who’s relocating to San Francisco from New York to join her family, will remain on the investment bank’s management committee, according to a separate memo.
She will continue to oversee key account management teams in the Americas and Europe, the Middle East and Africa, the corporate insights group as well as the investment bank and client marketing team, according to the memo. Hudson will also retain responsibility for helping to oversee the investment bank’s environmental, social and governance initiatives.
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