Credit Suisse’s chairman of risk committee to exit

Credit Suisse Group AG said Friday that its chairman of the risk committee won’t stand for re-election at the bank’s shareholders meeting.

Andreas Gottschling was facing criticism after a $5.5 billion loss from hedge-fund Archegos Capital Management.

Norges Bank Investment Management, which has a stake of around 3% in the bank, said it would vote against his reappointment.