Credit Suisse has reportedly hired former UBS strategy chief Dierk von Schuckmann as new CFO of its asset management unit.

Schuckmann will assume his role on 1 November, Reuters reported citing a Credit Suisse spokesperson.

The appointment comes as the scandal-ridden Swiss banking group continues to overhaul of its asset management operations run by division CEO Ulrich Koerner.

Previously a UBS senior executive, Koerner was brought in by the bank to helm its asset management division after it was hit by the explosion of short-term debt fund Greensill Capital.

In a bid to limit the effect of the scandal, it also separated its asset management business from its international wealth management unit.

Continuing scandals and restructure

Last week, Credit Suisse said it will pay around $475m to the US and the UK regulators to settle bribery and fraud charges in connection with $2bn Mozambican corruption scandal.

The Swiss Financial Market Supervisory Authority FINMA recently closed its proceeding against Credit Suisse with connection to an investigation into its past observation activities.

In its ruling, FINMA said that it found shortcomings in the bank’s corporate governance as well as errors in the internal investigation.

Earlier this month, the Swiss police have reportedly raised the offices of the bank in connection with an investigation into Greensill Capital.

Credit Suisse repaid to additional $400m to the Greensill investors in the beginning of this month. To date, the bank has returned approximately $6.3bn to the clients.

Last month, the bank appointed Nitesh Patel and Roger Senteler as interim co-heads of group internal audit as part of a group-wide restructuring under chairman Antonio Horta-Osorio.

It followed the appointment of Rafael Lopez Lorenzo as its chief compliance officer.