Credit Suisse Sets Up New Financing Group to Boost Risk Control

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.

A spokesperson for the bank confirmed the content of the memo, which was signed by Yves-Alain Sommerhalder ...