Credit Suisse Group  today (27 July) announced the appointment of David Wildermuth as chief risk officer and a member of the Executive Board of Credit Suisse Group as of 1 February 1, 2022 at the latest.

Wildermuth joins Credit Suisse from Goldman Sachs. He is a 34-year banking veteran, bringing extensive experience in risk management and in-depth knowledge of the financial services industry.

He will be based in Zurich and will report directly to group chief excutive officer Thomas Gottstein.

Joachim Oechslin will continue to serve as ad interim Chief Risk Officer until Wildermuth joins. After the handover to David, Joachim will reassume - as agreed in early April - a senior role as Strategic Advisor to the Group CEO.

António Horta-Osório, Chairman of Credit Suisse, said: "I am delighted to welcome David to Credit Suisse, where he will help shape the Group's enhanced risk management framework, an essential part of the bank's strategic realignment currently underway. David will contribute a wealth of experience and deep professional insights, having served more than three decades in various senior roles in the financial services industry."

Thomas Gottstein, Group CEO, said: "David joins with an impressive track record, underlining our firm commitment to further enhance our risk management across the bank. He is the right person to lead and further strengthen our risk organization. I look forward to closely working with David in his new role and as a member of the Executive Board.

At the same time, I would like to thank Joachim for accepting to perform the role as ad interim Chief Risk Officer in early April when the bank needed his experience and technical knowhow. Joachim was instrumental in leading the various risk-mitigation initiatives over the past few challenging months and we are fortunate to be able to continue to count on his leadership during the coming months until David joins us and thereafter."

Since joining Goldman Sachs as a vice president in 1997, he held a number of senior roles, both in the US and the UK, including chief risk officer EMEA and global chief credit officer. He was named managing director in 2001 and partner in 2010. In 2015, he was appointed deputy chief risk officer. He is a member of various risk committees at Goldman Sachs as well as a member of the board of Goldman Sachs International Bank.

Before joining Goldman Sachs, David spent a decade at European American Bank and its ultimate parent ABN Amro in various corporate finance, real estate and risk roles.