Sunday, October 24, 2021

Credit Suisse board backs CEO, chairman tells SonntagsBlick

ZURICH – Credit Suisse’s board of directors is convinced chief executive Thomas Gottstein is the right person to reorganize the bank strategically by curbing risk appetite, the Swiss bank’s president said in a newspaper interview published on Sunday. .

Asked whether he was planning to replace Gottstein as CEO or to head up the bank’s operations himself, Antonio Horta-Osorio was quoted as saying “no” in an interview with the Swiss Sunday newspaper Sonntagsblick. was cited as

“I can only say with certainty that Thomas Gottstein has the full confidence of the board of directors,” he said.

“The difficult phase the bank went through recently, has displayed its leadership skills in an impressive manner. He is the right person for the strategic restructuring of the bank.”

Horta-Osorio, who took over as chairman in April, said the bank had to curb its risk-taking ability and set the right incentives, as well as encourage employees to share and support their values.

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“The (discussion on the strategy) is not over, so we cannot talk about it publicly right now,” he said.

Also appearing in the interview, Gottstein said that it is extremely important for the President and CEO to work together at this critical stage.

Credit Suisse is trying to rebuild its reputation after suffering heavy losses this year with the collapse of Greensil-linked supply chain finance fund and investment fund Arcagos.

Gottstein said the bank has done a thorough analysis of its balance sheet. “We didn’t find any cases comparable to Greensil or Arcgos.”



This News Originally From – The Epoch Times

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