Swiss commodity trade finance lender TradeXBank has chosen long-time Credit Suisse banker Florian Lang as its next chief executive.

Lang will join on June 1 and replace Camille Sednaoui, who has led TradeXBank since early 2024.

TradeXBank said in a statement that “the board’s decision to bring in new leadership at this moment is a deliberate and strategic one”.

“After careful consideration, the board has mutually concluded with Camille that the time is right to open a new chapter for the bank under renewed leadership.”

Lang began his career with Credit Suisse in 1998, according to his LinkedIn profile. In March 2024 he became head, Credit Suisse Commodity Trade Finance at UBS, following the government-backed merger between the two institutions.

TradeXBank emerged from the sale of Sberbank’s Swiss subsidiary in early 2022, after the Russian lender was sanctioned following the invasion of Ukraine. In 2024, US sanctions on the business were lifted, allowing it to engage in US dollar transactions.

This week the bank said it opened a correspondent account with BNY.

TradeXBank chairman Philippe Clémençon said he and the board “are firmly convinced that Florian is the right leader to guide this firm into its next chapter. We are very much looking forward to collaborating with him, to further evolve TradeXBank as a well-respected provider of financial solutions for the commodity trade industry.”

Clémençon also thanked Sednaoui for his tenure, noting he “led TradeXBank through a critical transformation” and as a result the lender “is now in a more stable position”.

The lender also announced that chief risk officer Viviane Gabard has departed to pursue opportunities outside the firm. Senior risk analyst Victor Gusev will assume responsibility for risk until a replacement is found.