Credit Suisse is once again preparing to take on riskier business after a series of high-profile crises had prompted the bank to adopt a more cautious approach, according to the Swiss lender’s new chief risk officer.
David Wildermuth, who joined from Goldman Sachs in January, said the bank was “moving the pendulum back the other way” after ditching risker clients following the “catastrophic events” the business suffered last year.
“It’s the second time in my career I feel I’m as much a cheerleader for taking on more risk as I am for reducing risk — the other time was right after the financial crisis,” he told investors at an event on Tuesday.
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