Credit Suisse Hires Ex-UBS Counsel As Legal Bills Mount

By Najiyya Budaly (April 27, 2022, 12:48 PM BST) -- Credit Suisse announced on Wednesday that it has hired the former general counsel of UBS as it overhauls its executive board after a string of scandals that have contributed to a $280 million loss in the first quarter of 2022.

Markus Diethelm will join as general counsel in July, succeeding Romeo Cerutti, who will retire after more than a decade in the position, Credit Suisse Group AG said. Diethelm was most recently general counsel at a rival Swiss bank, UBS, where he served as a member of the executive board between 2014 and 2021.

He has been admitted to the bar...

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