Credit Suisse Hires Goldman Tech Veteran in Management Revamp – The Wall Street Journal

Credit Suisse Group AG hired a top technology executive from Goldman Sachs Group Inc., the latest revamp to the Swiss bank’s management team in the wake of twin scandals.

Joanne Hannaford will become the bank’s new chief technology officer and chief operating officer, replacing James Walker in the COO role. Mr. Walker will become deputy chief executive officer at Credit Suisse’s U.S. holding company, the bank said.

Credit Suisse reeled from a $5 billion-plus loss from family office Archegos Capital Management this spring, and its reputation also took a hit from the March bankruptcy of a financing partner, Greensill Capital. The bank ousted several executives, including two members of its management team. New Chairman António Horta-Osóriostarted reviews into risk management, strategy and culture via a board committee and outside consultants.

Mrs. Hannaford held senior engineering roles at Goldman Sachs over a 24-year career at the bank in London and New York. Goldman made her a partner in 2014. She will start Jan. 1.

A Goldman Sachs spokesperson declined to comment.