Credit Suisse exec set to move on

Credit Suisse announced on Wednesday that Anke Bridge Haux, the Head of Personal & Business Banking, is departing the bank to take up the CEO role of the Swiss arm of LGT Bank in November. Haux, who has been with the Swiss bank for 15 years, will leave a vacant position that the bank says it will fill soon.

Michael Sager, the current chief operating officer of Personal & Business Banking, will assume leadership of the business with immediate effect and join the executive board of Credit Suisse (Switzerland) Ltd. Sager will serve as interim leader until Credit Suisse finds a permanent replacement for Haux.

The Swiss lender has experienced a series of executive departures worldwide over the past few months, as it implements a plan to reduce thousands of jobs and reorient its focus from investment banking to more stable wealth management as part of an overhaul. The bank had been seeking to increase its focus on wealth management after a series of missteps and scandals, including the collapse of Archegos Capital.

The departure of Anke Bridge Haux is the latest in a series of significant changes within Credit Suisse’s senior leadership team. In July, the bank appointed Goldman Sachs veteran David Wildermuth as its new Chief Risk Officer to replace Lara Warner, who departed amid the Archegos Capital debacle.