Credit Suisse shook up the senior ranks of its risk management team as it embarks on a radical overhaul of its business. Nicolas Friedman is joining the Swiss bank as chief risk officer for markets and its investment banking unit from Goldman Sachs, while Craig Bricker, another Goldman executive, has been hired to take control of a new risk analytics and solutions group.

Ben Wilkinson, who is currently chief risk officer for Credit Suisse's investment bank, will take the same position within its wealth management function. Greg Frenzel has been promoted to chief credit risk officer. Thomas Herrmann has been named head of the newly formed corporate risk team, while Anne-Claude Rouiller will become global head of reputational risk.