Oil fund plans to vote against re-election of Credit Suisse risk committee chair

Andreas Gottschling, who has served as chair of the risk committee since 2018, earning a USD 1m annual fee, has come under fire after the Swiss bank lost at least USD 4.7bn from the collapse of family office Archegos Capital.

Credit Suisse headquarters, Zurich, Switzerland. | Photo: PR: Credit Suisse.

Norway's oil fund plans to vote against the re-election of Credit Suisse's risk committee chair, as well as five other board members.

Some of Credit Suisse's largest shareholders are trying to remove Andreas Gottschling, the board member in charge of risk oversight, and lead independent director Severin Schwan in protest at twin scandals that have cost the bank and its clients billions and tarnished its reputation, reports FT.

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