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Appointments to the Executive Board of Credit Suisse Group: Christine Graeff as Global Head of Human Resources and Rafael Lopez Lorenzo as Chief Compliance Officer

Credit Suisse Group AG today announced two internal appointments to the Executive Board of Credit Suisse Group.

Christine Graeff is appointed Global Head of Human Resources. She succeeds Antoinette Poschung who is retiring by the end of January 2022, entitled to her statutory retirement. Christine has been Global Head of Communications and Deputy Global Head of Human Resources since joining Credit Suisse at the beginning of the year. She will hand over Communications to her successor, for whom a search is ongoing.  Christine will fully take over HR as per February 1, 2022 at the latest ensuring a smooth handover. Christine has a track record of leading transformations and has reshaped the Communications function since joining Credit Suisse. Her leadership and people skills together with her communications expertise will be key in leading the HR function through their essential part in delivering on Credit Suisse’s strategic objectives.

Rafael Lopez Lorenzo is appointed Chief Compliance Officer. Rafael is currently Global Head of Group Internal Audit. He will take over from Thomas Grotzer who, as previously communicated, led the function on an ad interim basis since April 2021, effective October 1, 2021.  Rafael joined Credit Suisse in 2015 from JP Morgan Chase. He has a background in audit and banking. His track record in building and maintaining a leading Internal Audit team, in transforming and innovating its operating model as well as in building a strong bench of audit leaders has contributed to the stature of the function. His leadership, experience and deep understanding of the bank’s processes and challenges in the third line of defense will be key in leading the future Compliance function. In addition, Rafael has played a pivotal role in the review of recent incidents.

Both Christine and Rafael will join the Executive Board effective by February 1, 2022 at the latest, and October 1, 2021, respectively, reporting directly to the Group Chief Executive Officer, Thomas Gottstein.

António Horta-Osório, Chairman, and Thomas Gottstein, Group CEO commented on the appointments: "We congratulate Christine and Rafael on their new roles.  Both have delivered excellent results and have strong management track records in leadership positions.  These two appointments reflect the talent in Credit Suisse and the diversity of backgrounds and experience in our bank.  They will both contribute to shaping and implementing the strategy of the bank going forward.  We would like to specifically thank Antoinette for her invaluable contributions as a leader, which deserves particular recognition. She has provided exceptional support to the bank for 18 years in various positions and through challenging times. We would also like to thank Thomas for taking on the role of interim Global Head of Compliance in these challenging conditions."

Since 2013, prior to joining Credit Suisse, Ms. Graeff was the Director General of Communications at the European Central Bank. Between 2001 and 2013, she was Managing Partner in the strategic communications firm, Brunswick, where she set up and developed the group’s German business, with a particular focus on the financial sector. Prior to that, she was at Burson-Marsteller in London. She started her career as an investment banker at Kleinwort Benson after graduating from the European Partnership of Business Schools, where she studied European Business Administration. She was awarded an honorary doctorate from Middlesex University in 2015.

Prior to joining Credit Suisse’s Internal Audit team in 2015, Mr. Lopez Lorenzo was a Managing Director in the Investment Bank, Operations, Technology and Change at JPMorgan Chase in New York and earlier in Sao Paulo. Previously, he was a Senior Associate Consultant at PricewaterhouseCoopers in the Global Risk Management Solutions in London where he focused on the Commercial and Industrial Products and Services and the electronic business. He developed his career in London, Chicago, New York, Sao Paulo and Zurich. He graduated from University of Huelva in Spain where he studied Economic Science and Business Administration and from the École Supérieure de Commerce de Paris (ESCP), where he received a Masters in European Business, graduating "with merit".