UBS confirmed Monday that Christian Bluhm would remain chief risk officer for the “foreseeable future” as it tightens controls after the Credit Suisse takeover.
As it absorbs Credit Suisse (CSGN.S), the 167-year-old Swiss bank it rescued in March, CEO Sergio Ermotti is reforming UBS (UBSG.S).
Bluhm left UBS for photography in November. Damian Vogel will succeed Bluhm in May.
UBS’s corporate risk control integration leader Vogel would manage Credit Suisse’s deal risk.
“Having both senior risk leaders actively engaged will help ensure that we’re well prepared and appropriately set up in an area that’s crucial for our future success,” Ermotti said.
UBS’s Swiss-orchestrated purchase of Credit Suisse followed years of scandals.
Tuesday brings first-quarter earnings from the larger bank.
Monday saw Credit Suisse report first-quarter net asset outflows of 61 billion Swiss francs ($68 billion).
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