Brenna Hughes Neghaiwi and Simon Jessop

LONDON (Reuters). Credit Suisse (SIX) has named Emma Crystal, a wealth management executive, as the new chief sustainability officer. She replaces Marisa Drew who resigned after 18 years. A memo sent to employees by Reuters revealed that.

Crystal, who currently leads the International Wealth Management business for Northern & Western Europe, will start in the new role on April 1 and report directly to Chief Executive Thomas Gottstein, the memo said.

Credit Suisse’s spokesperson confirmed that the memo was true.

The second-largest bank in Switzerland created a division devoted to sustainability and research. In July 2020, 300 billion Swiss francs was allocated for sustainable finance. Lydie Hudson (NYSE) took over as the first executive responsible.

After a number of serious scandals, however, the bank’s recently elected chairman Antonio Horta Osorio announced that the bank would be restructuring. The new leader will remove the sustainability division from the executive-level leadership role and integrate it with other business units. Hudson is expected to depart the bank in the second quarter.

Horta Osorio, who was less than nine month in his job at Credit Suisse, resigned Monday following an internal investigation into his conduct.

Drew, formerly an investment banker and then head of the bank’s sustainability-focused impact advisory and finance department, was named chief sustainability officer and head of sustainability strategy in Aug. 2020, reporting to Hudson before her departure.

Gottstein announced in a memo that Drew was leaving the bank following 18 years of service to take up a job outside the company.

Crystal began her career at Credit Suisse in 2013. She has been the global leader of international wealth management’s Sustainable Client Solutions unit since 2020.

Gottstein stated that Emma will partner with the various divisions, regions, and functions to fulfill our Sustainability commitments. This includes expanding our wealth management product range, investing banking financing, and net zero deliverables.

She is still to be named as her successor in wealth management.

(This story changes spelling in the fourth paragraph and corrects Hudson’s departure date in paragraph five.