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ZURICH (Reuters) -Credit Suisse’s new chairman Antonio Horta-Osorio said he sees the scale of problems facing Switzerland’s second-largest bank as representing his biggest challenge yet.
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann/File Photo
Horta-Osorio, who was approved by Credit Suisse shareholders as chairman on Friday, said he intends to look at the bank’s risk management and culture in the wake of two major crises, as well as reviewing the bank’s strategic options.
“Over three and a half decades, I have personally worked at and led several banks in different countries and have lived through many crises,” the former Lloyds chief executive said during Credit Suisse’s webcast annual general meeting.
Credit Suisse board member quits after financial fiascos
published : 30 Apr 2021 at 13:45 Credit Suisse has been hit hard by bankruptcies at Archegos, a US hedge fund, and British financial firm Greensill.
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.
Credit Suisse board member Gottschling to exit after risk management debacle
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Last Updated: Apr 30, 2021, 12:29 PM IST
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Synopsis
Gottschling is leaving after proxy adviser Glass Lewis and some of Credit Suisse s large investors were opposed his to re-election to the board at the shareholders meeting due to be held later on Friday.
AFP
Credit Suisse board member and risk committee chairman Andreas Gottschling will not stand for re-election, the Swiss bank said on Friday, the latest head to roll among top leadership after the Greensill and Archegos debacles. Gottschling is leaving after proxy adviser Glass Lewis and some of Credit Suisse s large investors were opposed to his re-election to the board at the shareholders meeting due to be held later on Friday.
Apr 30 2021, 12:17 PM
April 29 2021, 7:58 PM
April 30 2021, 12:17 PM
(Bloomberg) Credit Suisse Group AG risk committee head Andreas Gottschling is stepping down from his role after prominent investors indicated theyâll vote to oust him following the $5.5 billion hit from the meltdown of Archegos Capital Management.
(Bloomberg) Credit Suisse Group AG risk committee head Andreas Gottschling is stepping down from his role after prominent investors indicated theyâll vote to oust him following the $5.5 billion hit from the meltdown of Archegos Capital Management.
Gottschling is standing down ahead of the bankâs annual general meeting on Friday, according to a statement from the company. Shareholder advisory firms including Glass Lewis had urged the bankâs investors to vote against re-electing him for another yearly term.