Call for C Suisse CEO to resign

Elbows

'You cannot duck.... responsibility in an emergency'.

Credit Suisse boss Brady Dougan is under pressure from lawmakers to resign over the bank's role in helping wealthy Americans dodge taxes, a legal headache that could cost the bank as much as $1.6bn to resolve.

Reuters reports that the bank is the highest-profile target in a U.S. probe that has cast a shadow over the Swiss banking industry since larger rival UBS became the first major lender to settle tax charges five years ago.

Switzerland's left-wing Social Democrats (SP) have called for Dougan to step down saying he and other executives represented part of the problem, raising the stakes for Dougan as he seeks to settle the tax case with U.S. authorities.

'If you're justifying your high salary with the responsibility you carry, then you cannot duck that responsibility in an emergency', SP president Christian Levrat said in a statement.

To access the complete Reuters article hit the link below:

Lawmakers pressure Credit Suisse boss Dougan to resign

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