Star banking veteran Christian Meissner was only six months into the job as co-head of a Credit Suisse unit that creates closer links between its wealth management and investment banking divisions before he was handed a much bigger challenge.

Amid a crisis at the Swiss bank — it is bracing for a $4.7bn hit from the fallout of the $20bn firesale of shares owned by hedge fund Archegos Capital Management — Meissner has just become the head of its investment bank. He takes over from Brian Chin, who has been ousted after just nine months as the Archegos saga jolts Wall Street.