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António Horta-Osório, incoming chairman of Credit Suisse (Image: Keystone)
Thursday, 1 April 2021 06:45 | Written by Peter Hody
Last Chance for Credit Suisse
The disaster pile-up by Credit Suisse causing billions in losses leads to a single conclusion: the Swiss bank needs a major strategy overhaul under new oversight.
The situation at Credit Suisse is precarious: board, management, and crisis committees are scrambling to deal with twin catastrophes. As they sift through potential financial wreckage in the billions and look for causes, correlations, effects, and accountability, the Swiss bank is trying to calm investors, regulators, and not least its own employees.