Credit Suisse names former UBS exec as sustainability framework head
Reuters
Published Aug 16, 2022 19:14
(Reuters) - Credit Suisse (SIX:CSGN) has appointed James Purcell as head of sustainability framework, according to an internal memo seen by Reuters on Tuesday, as the Swiss bank takes steps to improve shareholder value after a series of scandals tied to its management and operations.
The move to bolster sustainability has grown in corporate finance in the last few years as shareholders expect companies to take steps toward greater transparency and responsible investments.
Purcell and his team will lead the bank and its clients toward a more sustainable future, Chief Sustainability Officer Emma Crystal said in the memo.
Purcell, who took over the role on Aug. 1, has worked across wealth management and investment banking for over 14 years. He most recently served as group head of sustainable, thematic and impact investments at Quintet Private Bank and has held similar roles at UBS Wealth Management.
He also joined Credit Suisse's sustainability committee and reports to Crystal.
Credit Suisse last month named asset management boss Ulrich Koerner as its new chief executive officer, tasked with scaling back investment banking and cutting more than $1 billion in costs.
Earlier this month, Moody's downgraded the bank while S&P took a harsher view as the beleaguered lender faces challenges changing its risk and compliance culture and in repositioning its investment bank in the face of a difficult environment that also led to an erosion in its market value.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.