Credit Suisse board member quits after financial fiascos ...Middle East

ZURICH: Credit Suisse announced Friday that one of its board members would step aside after shareholders called for his head following major losses linked to the collapses of the Archegos and Greensill financial firms.The Swiss bank said in a brief statement that Andreas Gottschling, the head of the board’s risk committee, would not seek re-election at a general assembly later on Friday.Credit Suisse has been hit hard by bankruptcies at Archegos, a US hedge fund, and British financial firm Greensill.Shockwaves rippled through global financial markets and institutions last month when then little-known Archegos sold at least $20 billion (RM 82.1 billion) in stocks as it sought to cover obligat

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